USA HISTORY

Detailed explanation-1: -A deficit occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets. Federal budget deficits add to the national debt. Fiscal policy uses government spending and tax policies to influence macroeconomic conditions, including aggregate demand, employment, and inflation.

Detailed explanation-2: -The government continues to finance deficit spending with monetary emissions.

Detailed explanation-3: -Deficit spending is an economic policy in which a government spends more money raised by borrowing than it receives in revenue.

Detailed explanation-4: -A deficit spending unit describes how an economy or economic unit within an economy has spent more than it has earned over a given measurement period. The opposite of a deficit spending unit is a surplus spending unit, which leaves money for the company to redistribute.