(a)[12]
Explain what is meant by a budget deficit and why a large deficit might cause concern.
(b)[13]
Discuss the similarities and differences between using spending cuts and tax increases to solve budget deficits.
Economics 9708 · AS & A Level · Fiscal policy
Explain what is meant by a budget deficit and why a large deficit might cause concern.
Discuss the similarities and differences between using spending cuts and tax increases to solve budget deficits.