Government debt is defined as: accumulated deficits plus accumulated surpluses. a shortfall of incoming revenue under outgoing payment. accumulated deficits minus accumulated surpluses. a shortfall of outgoing payments under incoming revenue.

Option C Accumulated deficits minus accumulated surpluses.

Explanation:

The reason is that the government borrows when it is unable to meet its needs from the required level of earnings coming towards its which is exports and spending to meet its own requirements or the government desires to invest its money. This increase demand for borrowings can be calculated by taking the difference in accumulated deficits and accumulated surpluses.

accumulated deficits plus accumulated surpluses

Explanation:

Government debt (or national / sovereign / public debt) refers to the total amount of money a government owes to both domestic and foreign creditors. It is calculated by adding up all the accumulated government deficits (when it spends more than what it receives) minus the government surpluses (when it actually spends less than what it receives).

A great analogy for government debt is that the current deficit is a tree and the national debt if the forest. Usually most countries in the world have deficits: US government's deficit was $984 billion for 2019 fiscal year. So the national debt keeps increasing: US national debt is currently $22,668 billion. The last time the US had a budget surplus was in the 2001 fiscal year (October 2000 - September 2001).

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