An excess of federal expenditures over federal revenues is called a

Question

Quizplus · Accepted Answer

An excess of federal expenditures over federal revenues is known as a deficit. A budget refers to a plan for government spending, while taxes are a source of revenue for the government. The debt refers to the total amount of money owed by the government, which includes accumulated deficits over time. Tax expenditure refers to tax provisions that reduce the amount of tax revenue collected by the government.

An Excess of Federal Expenditures Over Federal Revenues Is Called