Budget deficit is the amount of money the government borrows for one budget (1 year) and national debt is the sum of all government borrowing.

a. True

b. False Reset Selection

Question

Ciara Melton

Social Studies

2 September, 06:03

Budget deficit is the amount of money the government borrows for one budget (1 year) and national debt is the sum of all government borrowing.

a. True

b. False Reset Selection

+5

Answers (1)

Know the Answer?

Kason Bryant · Answer 1

Budget deficit is the amount of money that is missing after the government collected all the money it has and spends all the money it wants to spend. This money is typically borrowed - so this part is correct.

The national debt is the total debt of a nation, so this is also correct:

a) true

Budget deficit is the amount of money the government borrows for one budget (1 year) and national debt is the sum of all government borrowing.a. Trueb. False Reset Selection

Budget deficit is the amount of money the government borrows for one budget (1 year) and national debt is the sum of all government borrowing.

a. True

b. False Reset Selection