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Definition of Deficit
An excess of liabilities over assets, of losses over profits, or of expenditure over income.
Anegative balance in the retained earnings account that is caused by cumulative
See budget deficit.
The amount by which government spending exceeds government revenues.
The excess of government spending over tax receipts.
The budget deficit in excess of the deficit that in the long run keeps constant the ratio of the publically held national debt to GDP.
deficit on the balance of merchandise trade.
The trade deficit and the government budget deficit.
Theory that says a country's trade deficit will initially worsen after its currency depreciates because
The debt owed by the government as a result of earlier borrowing to finance budget deficits. That part of the debt not held by the central bank is the publically held national debt.
An account within the balance of payments accounts showing the change in a country's official foreign exchange reserves. It is used to measure a balance of payments deficit or surplus.
Central bank action offsetting money supply changes automatically generated by a balance of payments surplus or deficit under a fixed exchange rate system.
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