Economy, asked by nishu1912003, 5 hours ago

When government spends more than it collects by way of revenue, it incurs​

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Answered by saw84208
1

Answer:

A budget deficit occurs when a government spends more in a given year than it collects in revenues, such as taxes. As a simple example, if a government takes in $10 billion in revenue in a particular year, and its expenditures for the same year are $12 billion, it is running a deficit of $2 billion.

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