Examlex
Which of the following forms at a medium grade of regional metamorphism?
Federal Budget Deficit
The shortfall that occurs when the federal government's expenditures exceed its revenues within a fiscal year.
National Debt
The total amount of money that a country's government has borrowed, typically from domestic or international lenders.
Balanced Budget
A balanced budget occurs when a government's total expenditures are equal to its total revenues within a specified period, avoiding deficits and surpluses.
Recession
A temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
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