JAMB - Economics (1978 - No. 2)
A budget deficit means
That a country is buying more than is selling
That a country is selling more than is buying
That a government is spending more than in takes in taxation
That a government is spending less than it takes in taxation
That a government is spending as much as it takes in taxation
Paskaidrojums
A budget deficit occurs when the government spends more than it receives.