Describe the role of the President in the budgetary process prior to 1921 and the President's role in the budgetary process after 1921 . Explain why this change in process might have made sense

What will be an ideal response?


Prior to 1921 federal agencies would submit budget requests to the Treasury Department. The Treasury Department would then compile the requests and give them to Congress. The President had no direct role in the budget prior to 1921 . After 1921, federal agencies submit budgetary requests to the Office of Management and Budget. After the requests are reviewed and compiled into a comprehensive budget, the President forwards the budget to Congress. Given the increased government spending and activity occurring around World War I, this change probably made sense because it created a comprehensive review of the budget where the executive branch could compare one agency's budget and activities against another's.

Economics

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The recent rise in the price of gasoline has caused:

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Economics

Which of the following is correct?

a. Any event that changes the supply or demand for labor must change the value of the marginal product. b. A profit-maximizing firm hires workers so long as the wage rate exceeds the value of the marginal product of labor. c. An increase in the supply of labor increases both employment and wages. d. A decrease in the demand for labor decreases wages but increases employment.

Economics