What's it: A cyclical budget deficit is when government spending exceeds government revenue, and it occurs due to economic conditions. In other
What's it: Government discretionary spending is an item in government spending where the allocation is at the government's discretion and is
What's it: Government revenue is money earned by the government for carrying out its activities. Taxes are the main source. In addition, the
What's it: Government capital expenditure refers to spending to create long-term assets in the economy. An example is money spent on building
What's it: Government current expenditures represent spending on day-to-day operations, including administrative activities and public services.
What's it: Transfer payments are payments by the government to the private sector without having to pay for the goods and services provided.
What's it: National debt is money owed by the government to its creditors. The government owes money to cover the budget deficit, where
What's it: Discretionary fiscal policy is a deliberate government policy to influence the economy by changing its spending and income. It is
What's it: An induced tax is a tax in which the rate increases and decreases depending on the taxpayer's ability. So, when our income or wealth
What's it: A balanced budget is when a government's spending equals its revenue. Therefore, there is no surplus or deficit. So, the government
What's it: A budget surplus is when the government plans to spend less than it earns. In other words, the government's budgeted revenue is
What's it: A tax is a mandatory levy by the government on an individual or other entity. There are many variations, including income tax, value