Economics Today: Macro View (Looseleaf)
Economics Today: Macro View (Looseleaf)
18th Edition
ISBN: 9780133916492
Author: Miller
Publisher: PEARSON
Question
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Chapter 14, Problem 14.1SC

(a)

To determine

Fill in the blanks

Introduction:

Budget: The estimated income and expenditure of a government over a period of time is known as the budget.

(b)

To determine

Fill in the blanks

Introduction:

Stock: Quantitative variables are measured at a particular point of time, known as stock

Flow: A flow is the quantity which is measured over a period of time.

(c)

To determine

Fill in the blanks

Introduction:

Budget Deficit: When the spending of the government is more than its revenue then it is known as the budget deficit.

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