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

Question

Quizplus · Accepted Answer

The government deficit is defined as the difference between government spending and tax receipts. When a government spends more than it collects in taxes, it runs a deficit.

Government Deﬁcit Can Be Deﬁned as the _____