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    # 176.....``Reg,your confusing debt with deficit again``.

    Courtesy Independent....

    ``Debt or deficit? Pop quiz

    What is the difference between debt and deficit?

    a) No difference.

    b) My head hurts.

    c) Debt is the total amount owed, deficit is the amount added to the debt each year.

    What's the difference between deficit and structural deficit?

    a) It's too complicated to explain.

    b) My head really hurts.

    c) Deficit is the annual difference between income and outgoings. Structural deficit is the persistent difference between income and outgoings that remains even when the economy is at maximum performance.

    What is the difference between per cent, and percentage point?

    a) Per cent is the unit, percentage point is the fraction of the whole.

    b) I never could do per cents.

    c) Per cent is the fraction of the whole, percentage point is the actual unit.

    How did you do?

    Mostly As: Go to the back of the class.

    Mostly Bs: Don't feel bad. We all get confused.

    Mostly Cs: Do you work for the Bank of England?

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