A situation in which the estimated government revenue is less than the proposed expenditure for a given year can be described as

Assessment: WAEC SSCE - Economics - 2012 (Objective) Subject: Economics

Question 1 Report

A situation in which the estimated government revenue is less than the proposed expenditure for a given year can be described as

Answer Details
When the estimated government revenue is less than the proposed expenditure for a given year, it creates a situation where the government is expected to spend more money than it can generate. This is known as a deficit budgeting. In this scenario, the government has to borrow money or increase taxes to meet its financial obligations, which can lead to inflation and other economic challenges.
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