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Explain What a Planning Gap Is and What Is Used

question 72

Essay

Explain what a planning gap is and what is used to close it.


Definitions:

Aggregate Demand

Aggregate requirement for goods and services within an economic system, evaluated at a fixed comprehensive price level over a defined period.

National Debt

The total amount of money that a country's government has borrowed, by various means, to cover its spending in excess of tax revenues.

Federal Budget Deficit

The shortfall when the federal government's expenditures exceed its revenues within a fiscal year.

Federal Budget Deficit

The financial situation where the federal government's expenditures exceed its revenues in a given fiscal year.

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