Prior to 1921, federal agencies first submitted their budgetary requests to _____
a. the President
b. the Speaker of the House
c. the Congressional Budget Office
d. the Treasury Department
d
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The view that inappropriate monetary policy was the main reason for the depth of the Great Depression in the United States is most closely associated with
A. the monetarist view. B. the rational expectations theory. C. the mainstream view. D. the real business cycle theory.
Suppose real GDP is currently $12.5 trillion and potential real GDP is $13 trillion. If the president and Congress increased government purchases by $500 billion, what would be the result on the economy?
What will be an ideal response?
Why did the Fed step in to organize a rescue for Long Term Capital Management (LTCM) in September, 1998, rather than simply letting the trouble fund fail? Was the Fed's action necessary or advisable?
What will be an ideal response?
Other things being equal, if there is an increase in the price of the good measured on the vertical axis, the budget constraint will shift outward
a. True b. False Indicate whether the statement is true or false