Answered

Which of the following describes a budget deficit?

A. Expenses lower than income
B. Expenses higher than income
C. Savings lower than expenses
D. Savings higher than income



Answer :

GinnyAnswer

Final answer:

A budget deficit happens when government spending surpasses revenues, resulting in an annual budget shortfall.


Explanation:

Budget deficit occurs when government expenditures exceed revenues. It is the annual budget shortfall between revenues and expenditures. The deficit equals government purchases minus net tax receipts.


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