The budget deficit is the amount by which a government's expenditures exceed its receipts.

Name: The budget deficit is the amount by which a government's expenditures exceed its receipts.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

The budget deficit is the difference between a government's spending (expenditures) and its revenue (receipts or income). If expenditures exceed receipts, then there is a deficit. This is commonly measured over a period of one year, and is often expressed as a percentage of a country's GDP (Gross Domestic Product).

The Budget Deficit Is the Amount by Which a Government's