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The federal budget deficit is? the year-to-year A
The federal budget deficit is? the year-to-year
A. short fall in tax revenues relative to government spending. The federal government debt is the accumulation of all past deficits.
B. excess of tax revenues relative to government spending. The federal government debt is the accumulation of all past debts.
C. surplus in tax revenues relative to government spending. The federal government debt is the accumulation of all past deficits.
D. short fall in tax revenues relative to government spending. The federal government debt is the accumulation of all past debts.
Expert Solution
A. Short fall in tax revenues relative to government spending. The federal government debt is the accumulation of all past deficits.
Explanation :
The federal budget deficit is the year-to-year short fall in tax revenues relative to government spending. The federal government debt is the accumulation of all past deficits. The federal budget deficit implies the difference between the flow of revenues and spendings of the government, specifically taxes. It occurs when government spendings surpasses revenues. The federal government debt implies accumulation of all past budget deficits of the federal government taken annually.
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