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    Question

    Which of the following best describes "Fiscal

    Deficit"?
    A The difference between government revenue and government expenditure Correct Answer Incorrect Answer
    B The gap between imports and exports Correct Answer Incorrect Answer
    C The amount of money a country borrows from the IMF Correct Answer Incorrect Answer
    D The excess of the total expenditure over the total revenue excluding borrowings Correct Answer Incorrect Answer
    E The increase in the central bank’s foreign exchange reserves Correct Answer Incorrect Answer

    Solution

    Fiscal deficit occurs when the government's total expenditure exceeds its total revenue, excluding borrowings.

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