When government expenditures in a given year are less than tax receipts,there exists

A) a budget deficit.
B) public revenue.
C) full-employment taxation.
D) a budget surplus.

Government Expenditures

Government expenditures are the total amount spent by public entities on goods, services, and obligations, influencing economic activity and fiscal policy.

Tax Receipts

The income generated for a government through taxation, which can include revenue from individuals, corporations, and other taxes.

Budget Deficit

A situation where a government's expenditures exceed its revenues, leading to the need for borrowing or using saved reserves.