Question on: JAMB Economics - 1991
Budget deficit is the amount by which?
A
total expenditure exceeds revenue
B
recurrent expenditure exceeds revenue
C
capital expenditure exceeds revenue
D
recurrent expenditure exceeds capital expenditure
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Correct Option: A
Budget deficit is the amount by which a government's expenditures such as defense, social security, science, energy and expenditure on infrastructure, etc. exceed its total income which comes principally from taxes, duties.
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