16 Nov 2021
Problem 21
Page 759
Section: CRITICAL THINKING QUESTIONS
Chapter 31: The Impacts of Government Borrowing
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16 Nov 2021
Introduction
The term Budget deficit refers to the difference between the governments total expenditure (Revenue and capital) and its total receipts (Revenue and capital), except the borrowing. Whereas in Budget surplus there is more total receipts (Revenue and capital) of government as compared to its expenditure (Revenue and capital) except the borrowing.
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