Which one of the following describes the amount by which government spending exceeds government revenues?
A) balance of trade
B) budget deficit
C) gross domestic product
D) output gap

Question

Quizplus · Accepted Answer

Budget deficit is the term that describes the amount by which government spending exceeds its revenues. A budget deficit can lead to government borrowing, which can cause the national debt to increase.

Which One of the Following Describes the Amount by Which