Fiscal Policy: Spending Flashcards
1
Q
allocate
A
to distribute something among those who want or need it
2
Q
budget
A
a plan that balances between available resources and expenses
3
Q
debt
A
an obligation to pay something
4
Q
deficit
A
spending in excess of revenue that has to be financed with borrowed money
5
Q
expenditures
A
money spent
6
Q
surplus
A
revenue in excess of spending
