How will you identify budget deficits?

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter11: Fiscal Policy And The Federal Budget
Section11.1: The Federal Budget
Problem 4ST
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How will you identify budget deficits?
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Step 1.

Budget deficit is a negative budget balance, where

Budget balance = Tax revenue - Government spending

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