Question

1. When you spend more than you make, you have a(n) _____?

A. Deficit
B. Surplus
C. Overage
D. Gain

Answer 1

When you spend more than you make, you have a deficit. Correct answer: A Deficit occurs when expenses exceed revenue, imports exceed exports, or liabilities exceed assets and it is an indicator of financial health. Surplus on the other hand is the opposite of deficit.

Answer 2

I think the correct answer from the choices listed above is option A. When you spend more than you make, you have a deficit. In economics, a deficit is an excess of expenditures over revenue in a given time period. Hope this answers the question. Have a nice day.