A Budget Deficit Refers To

question 63

Multiple Choice

A budget deficit refers to:

• A) the aggregate of all federal debt and surpluses that have accumulated over time.
• B) the amount by which government revenues exceed government expenditures.
• C) the amount by which government expenditures exceed government revenues.
• D) the amount by which government transfer payments exceed Social Security contributions.

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Definitions:

Trade Deficit

Results when a country imports more goods than it exports.

Imports

Goods or services brought into one country from another for the purpose of sale or use.

Exports

Goods, services, or technologies sent from one country to another for trade or sale.

Commercial Infrastructure

The foundational physical and organizational structures needed for the operation of a market and its services.