Question: Which statement is true? ( LO8 ) a) The public debt is larger than our GDP. b) The public debt is the sum of our

Which statement is true? ( LO8 )

a) The public debt is larger than our GDP.

b) The public debt is the sum of our defi cits minus our surpluses over the years since the beginning of the country.

c) We have had budget defi cits only during recession years and wartime.

d) None of these statements is true.

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