Economics A-Level
Budget deficit
What Budget deficit means in Economics A-Level, as defined for AQA.
Definitions of Budget deficit
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Check what you remember
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Reference: AQA
Occurs when spending exceeds tax revenue, requiring the government to borrow, which increases the national debt.
Occurs when expenditure exceeds revenue in a financial year, requiring the government to borrow.
Occurs when government spending exceeds taxation, requiring borrowing.
Topics that use Budget deficit
- Fiscal policy (AQA A-Level)
Related terms
- Aggregate demand and supply
- Aggregate supply
- Automatic stabilisers
- Budget balance
- Budget surplus
- Crowding out
- Direct taxes
- Economic capacity
Using Budget deficit in the exam
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