tancattle581Lv1
25 Nov 2021
Problem 9
Page 759
Section: REVIEW QUESTIONS
Chapter 31: The Impacts of Government Borrowing
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25 Nov 2021
Introduction
'Budget deficit' generally refers to the difference between the government total expenditure (revenue and capital) and its total receipts (revenue and capital) except the borrowing. Whereas, 'Trade deficit' means a situation in which a country buys more from other countries than it sells to other countries i.e. the import is greater than the capital.
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