Economics GCSE
National debt
What National debt means in Economics GCSE, as defined for AQA.
Definitions of National debt
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Check what you remember
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Reference: AQA
The national debt is the total accumulated amount the government owes, increased by borrowing to finance a budget deficit.
The total accumulated borrowing over time, which a deficit increases and incurs interest payments on.
Topics that use National debt
- Fiscal policy (AQA GCSE)
- Government income and expenditure (AQA GCSE)
Related terms
- Budget deficit
- Budget surplus
- Fiscal policy
- Government revenue
- Balanced budget
- Budget balance
- Direct taxes
- Economic growth
Using National debt in the exam
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