Economics · Fiscal Policy
In the context of a government budget, what does the term 'fiscal deficit' represent?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The portion of the budget specifically allocated for defense spending
- 2The excess of total expenditure over total revenue excluding borrowings✓
- 3The total cumulative debt of the government
- 4The surplus funds available for public spending
Correct answer
The excess of total expenditure over total revenue excluding borrowings
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