🎴 Flashcard Mode
Banking Awareness Test - 2
Card1 / 23
Mastered0
Review0
QuestionClick to flip
Fiscal deficit is
AnswerClick to flip back
A
total expenditure less total receipts excluding borrowing
💡 Explanation:
Fiscal deficit occurs when a government's total expenditure exceeds its total receipts, excluding borrowings. Borrowing is excluded because it is a financing item, not revenue. Option D correctly captures this economic concept.