Which of the following is true of the federal budget? a. The federal budget is a...
Which of the following is true of the federal budget?
a. The federal budget is a plan that describes a government’s fiscal policy for the current financial year.
b. The federal budget is a plan that describes the president’s take on the economy.
c. The federal budget is a plan for federal government outlays and revenues for a specified period, usually a year.
d. The federal budget is a plan that describes the eligibility criteria of the major entitlement programs taken up by Congress for the current financial year.
e. The federal budget is a plan that describes a government’s monetary policy for the current financial year.
Homework Answers
Option C is correct, The federal budget is a plan for federal government outlays and revenues for a specified period, usually a year.
A budget focuses on what would be the sources on cash inflow for the government and what would be the sectors where it will spend this revenue. It is a plan for the future and it pertains mostly for a year but can be for any other period of time.
- Option e is incorrect because the government controls the fiscal policy and not the monetary policy, which is controlled by the Federal reserve.
- Option a is wrong because the budget is for the future period and not the current financial year
- For the same reason, option d is also dismissed
- Budget is not the take of the President, budget is the plan for what will government spend on and where will it get that inflow so option b is also wrong
Add Answer to:
Which of the following is true of the federal budget?
a. The federal budget is a...
QUESTION 1 Which of the following is an example of an automatic fiscal policy stabilizer? a....
QUESTION 1 Which of the following is an example of an automatic fiscal policy stabilizer? a. Tax revenues fall as real GDP decreases. b. Congress decides to cut spending on national defense. c. Congress cuts individual income tax rates. d. Tax revenues rise after Congress raises corporate tax rates. QUESTION 7 When a country's economy is producing at a level that is less than its potential GDP, the standardized employment deficit will show a ________ than the actual deficit. a....
Because Congress decides on the federal goverment's budget during the year prior to when it will...
Because Congress decides on the federal goverment's budget during the year prior to when it will take effect, the tax laws and spending programs embodied in the budget _______________ once they are in place. Because of this, the implementation lag for fiscal policy is ______________ . A. are hard to change; often quite long. B. are easy to change; often quite long. C. are hard to change; usually very short. D.are easy to change; usually very short.
QUESTION 32 How federal government taxing and spending affects aggregate demand is a. a major concern...
QUESTION 32 How federal government taxing and spending affects aggregate demand is a. a major concern of fiscal policy. b. a major concern of international policy. c. a major concern of corporate policies. QUESTION 34 How would a balanced budget amendment change the effect of automatic stabilizer programs? a. They could no longer exist because the government would not have a way to pay for these programs. b. They would lose flexibility because spending could not increase unless funds were...
1. Using Google or any other search engine, report the current GDP: __________ Trillion 2. Using...
1. Using Google or any other search engine, report the current GDP: __________ Trillion 2. Using Google or any other search engine,the current Federal deficit: __________ Billion 3. Using Google or any other search engine, the current Federal debt: __________ Trillion 4. Using Google or any other search engine, report the bottom line of the current (last) budget approved by Congress (surplus or shortage) Note that the fiscal year for the federal government is October 1 - September 31: Outlays:...
Can you help me with this question please. Federal Government's Budget Plan for...
Can you help me with this question please. Federal Government's Budget Plan for Fiscal Year ($billion) REVENUES OUTLAYS Personal income taxes $110 Transfers to persons $45 Corporate income taxes 24 Spending grants to other levels of government 48 Other income taxes 1 Public debt charges 31 GST and excise taxes 50 Direct program spending 70 EI premiums 18 Total Outlays 194 Other revenues 23 Projected Budget Plan Surplus 32 Total Revenues 226 a. The...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing and spending affects aggregate demand. how changes to the budget affect the money supply. how changes to the money supply affect aggregate demand. - Previous Next Question 9 1 pts of the following examples, which is an example of an automatic fiscal policy stabilizer? Congress increases individual income tax rates. Congress decides to cut spending on national parks. Tax revenues increase as real GDP...
The Current U.S. government spending is $4.746 trillion. That's the federal budget for fiscal year 2020...
The Current U.S. government spending is $4.746 trillion. That's the federal budget for fiscal year 2020 covering October 1, 2019, to September 30, 2020. It's 21% of gross domestic product. That means that Government Spending in the United States has increased under the current U.S. Administration. Additionally, last year the Congress passed a tax reform that, among other effects, cut payroll taxes: i) Can you establish the macroeconomics effects of these policies on consumption, investment, interest rate and savings? Use...
5) In recent weeks the stock markets in the Wall Street has show an unexpected level...
5) In recent weeks the stock markets in the Wall Street has show an unexpected level of ups and downs mainly attributed to the uncertainty of healthcare reform under Trump administration and retail stores closing such as Macys’, JCPenny, Sears, another possible cutting govt. programs (in an effort to reduce budget deficit). In the process, the value of the $ has risen against the Euro, the Yuan (Renminbi), yen and many other currencies. A) Given the current condition of the...
Given the following statements regarding fiscal policy, which is/are TRUE? (i). A decrease in a government’s budget defi...
Given the following statements regarding fiscal policy, which is/are TRUE? (i). A decrease in a government’s budget deficit should lead to a fall in interest rates in a country. (ii). Changes in tax rates do not directly affect monetary policy. (iii). Increased borrowing by a government generally leads to a drop in interest rates. (iv). When a country is in recession, then decreasing taxes may deepen the recession. (v). For a progressive tax system, when people earn more, a country’s...
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
D Question 5 1 pts A major concern of fiscal policy is how federal government taxing and spending affects aggregate demand. how changes to the budget affect the money supply. how changes to the money supply affect aggregate demand. - Previous Next Question 9 1 pts of the following examples, which is an example of an automatic fiscal policy stabilizer? Congress increases individual income tax rates. Congress decides to cut spending on national parks. Tax revenues increase as real GDP...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago