Question : The national debt is:
Option 1: The amount of money owed by the government to its citizens
Option 2: The amount of money owed by the government to other countries
Option 3: The total amount of money the government has borrowed over time
Option 4: None of the above
Correct Answer: The total amount of money the government has borrowed over time
Solution : The correct answer is (c) The total amount of money the government has borrowed over time.
The national debt refers to the cumulative amount of money that a government has borrowed from various sources, including its citizens, domestic institutions, and foreign entities. It represents the total outstanding debt owed by the government, resulting from budget deficits over time.
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