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What does deficit mean in economics?

(economics) the amount by which money spent or owed is greater than money earned in a particular period of time in deficit The trade balance has been in deficit for the past five years. (formal) the amount by which something, especially an amount of money, is too small or smaller than something else

What is the difference between a deficit and a fiscal deficit?

Deficit spending is when a government spends more than the revenue it collects during a certain period. Fiscal deficits occur when a government's total expenditures exceed the revenue that it generates, excluding money from borrowing.

What causes a deficit in a country?

A deficit occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets in a particular year. Governments and businesses sometimes run deficits deliberately, to stimulate an economy during a recession or to foster future growth. The two major types of deficits incurred by nations are budget deficits and trade deficits.

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