question archive A budget deficit is the: a
A budget deficit is the: a
Subject:EconomicsPrice:2.88 Bought3
A budget deficit is the:
a. excess of tax revenues over expenditures,
b. shortfall of Social Security collections toward payment of benefits,
c. annual excess of government spending over revenue raised by taxes, fees, and charges,
d. amount by which tax revenues and borrowed funds fall short of government expenditures.
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Answer: C
A budget deficit is the difference between all forms of government spending and all forms of government revenue (fees included). A government has no money it doesn't either receive as taxes/fees or borrowed funds. A budget surplus is the opposite, an excess of revenue over spending.
