Although they sound similar, there is an important distinction between deficits and debt. Deficits are a shortfall in a budget at any given time, and debts are an accumulation of deficits over time. Learn about the relationship between deficits, debt, and economic growth in this lesson.
1 Question Set
Free
Add, modify, and use for free.
A nonprofit with the mission to provide a free, world-class education for anyone, anywhere.
Learn more