Question on: JAMB Economics - 2024
If government in a fiscal year has its revenue receipts less than the expenditure, such country is having
A
deficit budget
B
favorable budget
C
balanced budget
D
surplus budget
Ask EduPadi AI for a detailed answer
Correct Option: A
A deficit budget occurs when a government's spending exceeds its revenue in a fiscal year. This means the government is spending more money than it is taking in.
Add your answer
Please share this, thanks!
No responses