Multiple choice

Public Debt constitutes

  1. external public debt

  2. external liabilities and external commercial borrowings

  3. national debt and other miscellaneous debt for which the government is ultimately responsible

  4. both (2) and (3)

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Public debt comprehensively includes external liabilities, external commercial borrowings, national (internal) debt, and miscellaneous obligations for which the government is ultimately responsible. It's not just external debt (option A) or the combinations in B and C separately - it's all of these together.