All GED Social Studies Resources
Example Questions
Example Question #1 : Consumer And Federal Relationships
In economics, a deficit is best described as __________
Possible Answers:
a situation where demand greatly outstrips supply.
the amount of money set aside to fulfill government policy aims in a given period of time.
a situation in which supply greatly outstrips demand.
the balance of trade between two nations.
when expenditures exceed revenue in a given period of time.
Correct answer:
when expenditures exceed revenue in a given period of time.
Explanation:
In economics, a deficit occurs when the amount of money being spent (expenditures) exceeds the amount of money being collected (revenue) over a given period of time.
All GED Social Studies Resources
Popular Subjects
ISEE Tutors in Atlanta, Math Tutors in Boston, SAT Tutors in San Diego, MCAT Tutors in San Diego, Spanish Tutors in Dallas Fort Worth, MCAT Tutors in New York City, GMAT Tutors in Dallas Fort Worth, Chemistry Tutors in Los Angeles, Reading Tutors in Washington DC, Computer Science Tutors in Boston
Popular Courses & Classes
MCAT Courses & Classes in Houston, ISEE Courses & Classes in Boston, SAT Courses & Classes in Houston, ISEE Courses & Classes in Seattle, Spanish Courses & Classes in San Diego, SAT Courses & Classes in San Diego, GMAT Courses & Classes in Dallas Fort Worth, ACT Courses & Classes in San Francisco-Bay Area, SAT Courses & Classes in Philadelphia, GMAT Courses & Classes in Boston
Popular Test Prep
LSAT Test Prep in Seattle, SAT Test Prep in New York City, ISEE Test Prep in Atlanta, ISEE Test Prep in San Diego, GMAT Test Prep in Houston, MCAT Test Prep in Chicago, ISEE Test Prep in Philadelphia, SSAT Test Prep in Miami, SAT Test Prep in Los Angeles, ACT Test Prep in San Francisco-Bay Area
![Learning Tools by Varsity Tutors](https://vt-vtwa-app-assets.varsitytutors.com/assets/problems/og_image_practice_problems-9cd7cd1b01009043c4576617bc620d0d5f9d58294f59b6d6556fd8365f7440cf.jpg)