Which of the following is NOT a type of budget deficit?
A. Fiscal deficit
B. Trade deficit
C. Primary deficit
D. Revenue deficit
Answer: Option B
Solution (By JKSSB Mock Tests)
Trade deficit is a component of the balance of payments (external sector). Revenue, fiscal and primary deficits are concepts related to the government budget.
Explanation:
The cost of production influences the supply side. Price elasticity of demand depends on substitutes, nature of the good, proportion of income spent, time and habits.
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