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What is the term used when the amount available for obligation is a negative number?

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Final answer:

A budget deficit occurs when the amount available for obligation is a negative number, and the government needs to borrow funds to cover the deficit.

Step-by-step explanation:

When the amount available for obligation is a negative number, it is referred to as a budget deficit. A budget deficit occurs when a government spends more money than it receives in taxes, causing a negative balance. This deficit then needs to be covered by borrowing funds, making the government a demander of financial capital.

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