Description
This is document describes about report on economics.
A budget deficit occurs when an entity (often a government) plans to spend more money than it takes in. The opposite of a budget deficit is a budget surplus. Debt is essentially an accumulated flow of deficits. In other words, a...
What does economic theory suggest? Textbook definitions will suggest that a government runs a budget deficit if government purchases of goods and services (g) (like defense expenditure, government employees, building roads etc.) exceed the net of tax revenues minus transfer payments (t) like...