The national deficit is the difference between our nation's exports and its imports.
Level of Learning 1: Knowledge of key terms

Question

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The national deficit refers to the difference between a nation's total expenditures (including government spending, private consumption, investment, and net exports) and its total income (including government receipts, private business profits, and individual earnings). It is not specifically related to exports and imports.

The National Deficit Is the Difference Between Our Nation's Exports