The Difference Between the Gross Public Debt and the Net

Multiple Choice

The difference between the gross public debt and the net public debt is that the

A) gross public debt includes entitlements while the net public debt does not.
B) gross public debt is based on budget deficit while the net public debt is not based on budget deficits.
C) gross public debt includes government interagency borrowing while the net public debt does not.
D) the gross public debt is expressed as a percentage of GDP while the net public debt is not.