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Question

If in a budget the government's revenue receipts and non-debt capital revenue are less than the government's total expenditure, it is called _____.

A
budget deficit
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B
revenue deficit
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C
fiscal deficit
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D
primary deficit
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Solution

The correct option is B fiscal deficit

A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits.


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