Asked by
Julie Bunderson
on Nov 16, 2024Verified
Proponents of a balanced government budget acknowledge that running a budget deficit is justifiable in time of war.
Budget Deficit
A shortfall of tax revenue from government spending
Balanced Budget
A financial statement or plan where total revenues are equal to or greater than total expenses, resulting in no deficit.
- Analyze the implications of budget deficits and fiscal policy choices on the economy.
Verified Answer
LM
Learning Objectives
- Analyze the implications of budget deficits and fiscal policy choices on the economy.