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7 Cards in this Set

  • Front
  • Back
National debt
The total amount owed by the gederal government to owners of government securities
Net public debt
The national debt minus all governemtn interagency borrowing
Debt ceiling
A legislated legal limit on the national debt
Internal national debt
The portion of the national debt owed to a nation's own citizens
External national debt
The portion of th enational debt to foreign citizens
Crowding-out effect
A reduction in private-sector spending as a reslut of federal budget deficits financed by U.S. treasury borrowing When federal government borrowing increases interest reates, the reslut, is lower consumption by households and lower investment spending by businesses
Crowding-in effect
An increase in private-sector spending as a result of federal budget deficits financed by U.S Treasury borrowing. At less than full employment, consumers holds more Treasury securities, and this additional wealth causes them to spend more. Businesses, investment spending increases because of optimistic profit expectations