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      Question

      Match the following: A) Current Ac Deficit P)

      Total Expenditures Exceed the Revenue B) Fiscal Deficit Q) Expected revenue and expenditure C) Revenue deficit R) Trade Balance D) Budgetary Deficit S) Revenue deficit plus Current Ac deficit
      A A-P, B-R, C-S, D-Q Correct Answer Incorrect Answer
      B A-P, B-S, C- R, D-Q Correct Answer Incorrect Answer
      C A-R, B-P, C-S, D-Q Correct Answer Incorrect Answer
      D A-R, B-P, C-Q, D-S Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Current Account Deficit - the sum of the balance of trade (goods and services exports less imports), net income from abroad and net current transfers Fiscal Deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. A Revenue Deficit occurs when the net income generated, revenues less expenditures, falls short of the projected net income Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government. Budgetary deficit is the sum of revenue account deficit and capital account deficit.

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