The definition of the budget deficit is basically the difference between government spending and __________ in one year.
A)Donations
B)Loans from other governments
C)Investments
D)Tax collections

Question

Quizplus · Accepted Answer

The definition of the budget deficit is basically the difference between government spending and tax collections in one year.
Key Takeaway: The budget deficit, as stated above, is the difference between what the government spends and what the government brings in (in taxes) in one year. The national debt, then, is the overall accumulation of past budget deficits and shows the total money that the government owes at any one time.

The Definition of the Budget Deficit Is Basically the Difference