BUDGET DEFICIT Definition

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BUDGET DEFICIT is usually the difference between government spending and revenue and thus the amount that needs to be borrowed. Definition varies between countries.

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FIXED OVERHEAD is those costs like rent, utilities, basic telephone, loan payments, etc., that stay the same whether sales go up or down. Variable overhead, on the other hand, are those costs which vary directly with production.

TAXABLE refers to goods or funds subject to taxation.

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