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Consider the following pairs:
(Term : Meaning)
1. Stagflation : Persistent high inflation combined with stagnant output and high unemployment
2. Fiscal deficit : Total expenditure minus total receipts excluding borrowings
3. Primary deficit : Fiscal deficit minus interest payments
4. Revenue deficit : Fiscal deficit minus capital expenditure
Which of the pairs given above is/are correctly matched?
- A1 and 2 only
- B1, 2 and 3 only
- C2, 3 and 4 only
- D1, 2, 3 and 4
Correct answer: B