A Deficit Is Defined as

question 20

Multiple Choice

A deficit is defined as

• A) the excess of total expenditures over total revenues.
• B) the excess of total revenues over total expenditures.
• C) government spending plus transfer payments.
• D) the sum of all past borrowing by the government.

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Definitions:

Method Of Elimination

A technique for solving systems of equations by eliminating one variable at a time to find the values of the others.

Fractions

Numerical quantities that represent a part of a whole, typically in the form of 'numerator/denominator'.

Linear Equations

Equations of the first degree, meaning they involve only first-degree variables and constants, typically having a straight line as their graph.

Method Of Elimination

A technique used in solving systems of equations where one variable is eliminated by adding or subtracting the equations in order to solve for the other variable.