The correct answer is D. budget deficit.
A budget deficit occurs when a government’s spending exceeds its revenue. This can happen for a number of reasons, such as a recession, a war, or a large increase in government programs. When a government runs a budget deficit, it must borrow money to cover the difference. This can lead to an increase in the national debt.
A budget surplus occurs when a government’s revenue exceeds its spending. This can happen during a period of economic growth or when the government cuts spending. When a government runs a budget surplus, it can use the extra money to pay down the national debt or to invest in new programs.
The Federal Reserve is the central bank of the United States. It is responsible for setting monetary policy, which is the process of controlling the money supply. The Federal Reserve does not have a budget in the same way that the government does. Instead, it uses its monetary policy tools to influence the economy.
The federal budget is a document that outlines the government’s spending and revenue for the upcoming fiscal year. The budget is prepared by the Office of Management and Budget and is submitted to Congress for approval. The budget is a complex document that covers a wide range of topics, including defense, education, healthcare, and transportation.
I hope this helps!