Asked by Dayna McCormick on Jun 24, 2024
Verified
When government expenditures in a given year exceed tax receipts,there exists
A) a budget surplus.
B) a budget deficit.
C) public revenue.
D) full-employment taxation.
Budget Deficit
The situation where a government's expenditures exceed its revenues over a specified period, leading to borrowing or money printing.
Tax Receipts
The total amount of tax revenue collected by a government from individuals and businesses.
- Attain proficiency in the concepts surrounding budget deficits, surpluses, and their repercussions.
Verified Answer
MW
miesha whiteJun 30, 2024
Final Answer :
B
Explanation :
A budget deficit occurs when the government spends more money than it collects in taxes during a specific time frame, often a year. This leads to an increase in government debt.
Learning Objectives
- Attain proficiency in the concepts surrounding budget deficits, surpluses, and their repercussions.
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