If, in a specific year, exports are $40 billion, business expenditures are $60 billion, the government collects $50 billion in t

Question

dedylja [7]

1 year ago

12

If, in a specific year, exports are $40 billion, business expenditures are $60 billion, the government collects $50 billion in t

ax revenues and public expenditures are $70 billion, then there is a fiscal deficit equal to ________.

Business

1 answer:

katovenus [111] · Answer 1 · 2023-04-07T05:35:00+03:00

The fiscal deficit for the government for the current year will be $20 billion for the given condition.

<h3>What is fiscal deficit?</h3>

The condition where there is an excess of expenditures over the income during a given financial period, it is known as fiscal deficit. The computation of fiscal deficit using the formula and the given information will be,

Fiscal Deficit = (Total Income – Total Expenditure)

Fiscal Deficit = $50 billion – $70 billion = -$20 billion

Hence, option C holds true regarding fiscal deficit. The complete question has been attached in the image for better reference.

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