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What is the key difference between a fiscal deficit and national debt?
A
A fiscal deficit is a yearly flow of borrowing; national debt is the accumulated stock of borrowing.
B
A fiscal deficit is government tax revenue; national debt is total government spending.
C
A fiscal deficit is the accumulated stock of borrowing; national debt is a yearly flow of borrowing.
D
A fiscal deficit is private-sector borrowing; national debt is household saving.
Card 1 of 20
4.5.3 Public sector finances Flashcards
20 flashcards on Edexcel A A Level Economics 4.5.3 Public sector finances: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.