Problems with the federal government budget process include:
a. budgeting that allows the President too much discretion in spending decisions
b. budgeting that increases the flexibility of discretionary fiscal policy.
c. a budget outline that needs to be approved with at least a two-thirds majority vote.
d. most of the expenditures being for entitlement programs.
e. a brief budgeting that does not allow Congress to study whether the budget is an appropriate tool for fiscal policy.
d
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If we compare the United States to France, we see that potential GDP per person in France is ________ that in the United States because the French tax wedge is ________ the U.S. tax wedge
A) greater than; larger than B) the same as; the same as C) greater than; smaller than D) less than; smaller than E) less than; larger than
How are the fundamental economic decisions determined in North Korea?
A) The United Nations decides because North Korea is a developing economy. B) These decisions are made by the country's elders who have had much experience in answering these questions. C) Individuals, firms, and the government interact in a market to make these economic decisions. D) The government decides because North Korea is a centrally planned economy.
The principle of asset valuation applies to
a. physical capital b. natural resources c. human capital d. stocks and bonds e. all of the above
In the early 1990s, some ________________ experienced inflation rates in the triple digits
a. of the newly emerging nations of Central Europe and the former Soviet Union b. East African nations c. Latin American nations d. Asian nations e. West African nations