Government Deficit Can Be Defined as the _____

question 69

Multiple Choice

Government deficit can be defined as the _____.

• A) difference between tax receipts and depreciation
• B) difference between government spending and tax receipts
• C) difference between exports and imports
• D) amount spent by the government on subsidies and grants

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Definitions:

Law Of Demand

The negative relationship between price and quantity demanded: Ceteris paribus, as price rises, quantity demanded decreases; as price falls, quantity demanded increases.

Prices Fall

A scenario in which the market prices of goods or services decrease, often due to increased supply or reduced demand.

Law Of Demand

The economic principle stating that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a specific price level.