Which of the following occurs if a country's total expenditures are higher than the revenues received from the taxes it gathers?
A) federal budget deficit
B) national surplus
C) annual expenditure surplus
D) national priority deficit

Question

Quizplus · Accepted Answer

If a country's total expenditures are higher than the revenues received from the taxes it gathers, it results in a federal budget deficit. This means that the government needs to borrow money through issuing bonds or loans to meet its expenses, which can lead to an increase in national debt.

Which of the Following Occurs If a Country's Total Expenditures