what is the term used to describe the situation where the government spends more money than it collects in…
what is the term used to describe the situation where the government spends more money than it collects in revenue? budget surplus budget deficit trade deficit national debt
Answer
Answer:
B. Budget deficit
Brief Explanations:
When government spending exceeds revenue, it's a budget - deficit. A budget surplus is when revenue exceeds spending. A trade deficit is about imports and exports, and national debt is the total amount of debt owed by the government.