A budget deficit occurs when government receipts exceed government spending.

Budget Deficit

A situation where government spending exceeds its revenues within a specific period, leading to borrowing or depletion of reserves.

Familiarize yourself with the principles of budget surplus and deficit, and understand the reasons behind them.

Verified Answer

Final Answer :

False

Explanation :

A budget deficit occurs when government spending exceeds government receipts.

Learning Objectives

Familiarize yourself with the principles of budget surplus and deficit, and understand the reasons behind them.