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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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