The amount by which government spending exceeds revenues in a fiscal year is called the

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The amount by which government spending exceeds revenues in a fiscal year is called the budget deficit. The national debt refers to the total amount of money owed by a government after all its borrowing, while trade shortfall refers to the difference between exports and imports. Gross national product and gross domestic product are measures of a country's economic performance.

The Amount by Which Government Spending Exceeds Revenues in a Fiscal