Standard F

Question 1

A government spends more money in a fiscal year than it takes in during that time.

Answer 1

Government Deficits

Question 2

Differentiate between national debt and government deficits.

Answer 2

Government deficit is how much we spend per year over what we take in from taxes, while national debt is the total amount the nation owes ( the deficits added together)

Question 3

The total amount owed by the national government to those from whine it has borrowed to finance the accumulated difference between annual budget deficits and annual budget surpluses;also called public debt.

Answer 3

National Debt