9. True or false? If the statement is false, explain why: LO4

a. An internally held public debt ei s a likdebtf othe left hand owed to the right hand.

b. The Federal Reserve and efderal government agencies hold more than half the public debt.

c. As a pecerntage of GDP, thee dferal debt heldy b the public was smaller in 2011 than it was in 1990.

d. As a pecrentage of GDP, the total U.S. public debt is the highest such debt among the world’s advanced industrial nations.