D) Haven't been presented to the bank for payment but have been subtracted in the checkbook
The fluctuation of growth and decline in an economy is called BUSINESS CYCLE OR ECONOMY CYCLE.
The fluctuations in business cycle usually involves shift between period of relatively rapid economic growth and period of relative stagnation or decline. Business cycle is measured by considering the growth rate of real gross domestic product of the nation concerned.
The gross debt is the total amount of debt the gov. has issued . the difference is that the net debt does not include debt owned by the gov. to itself