The U.S. Public Debt

Multiple Choice

The U.S. public debt

A) refers to the debts of all units of government-federal, state, and local.
B) consists of the total debt of U.S. households, businesses, and government.
C) refers to the collective amount that U.S. citizens and businesses owe to foreigners.
D) consists of the historical accumulation of all past federal deficits and surpluses.