Canadian Securities Course (CSC) Level 1 Practice Exam

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What is the National Debt?

The total value of all goods and services produced in a country
The money owed by individuals to the government
The amount of money the government owes
The value of a country's currency in the global market

The correct answer is: The amount of money the government owes

The correct answer is C. The National Debt refers to the amount of money that a government owes. It is the cumulative total of all the government's borrowing over time to cover budget deficits. This debt is usually in the form of government bonds or treasury bills. Options A, B, and D do not accurately define the National Debt. Option A refers to the Gross Domestic Product (GDP), option B refers to individual debt to the government, and option D is related to currency valuation.