Describe the three broad categories of the U.S. budget
What will be an ideal response?
Discretionary spending constitutes spending on all the programs that Congress authorizes on an annual basis that are not automatically funded by prior laws. Discretionary spending includes defense spending and all nondefense domestic spending.
Entitlement and mandatory spending constitutes all spending that Congress has authorized by prior law. Entitlement and mandatory spending includes Social Security, Medicare and Medicaid payments.
Net interest is the interest that the government pays the public on public-held government debt. Net interest payments include the payments made on U.S. Treasury bonds, bills and U.S. savings bonds.
You might also like to view...
What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?
What will be an ideal response?
What are sticky wages?
a. Wages that employers will not increase b. Wages that respond to changes in demand c. Wages that do not respond to changes in demand d. Wages that do not respond to changes in supply
The elasticity of savings with respect to interest rates is the percentage change in the quantity of savings divided by the percentage change in interest rates.
Select whether the statement is true or false. A. True B. False
The more _____ the demand, _______.
Fill in the blank(s) with the appropriate word(s).