JAMB Economics 2018 Objective — Question 12

Question 12 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2018 Objective paper, with the correct answer and a full explanation.

If government expenditure exceeds its revenue, this will give rise to a

A. Surplus balance of payment
B. Deficit balance of payment
C. Surplus budget
D. Deficit budgetCorrect

Explanation

When expenditure exceeds revenue in a given year, the government runs a deficit budget.

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