Exam 12: Federal Budgets and Public Policy

When a budget is not approved in time,_____.

The accepted philosophy on U.S.federal deficits prior to the Great Depression was that:

If the federal government budget deficit increases,then interest rates will _____,the U.S.dollar will _____,and the foreign trade deficit will _____.

The U.S.government can continue to run a deficit as long as the cost of servicing the resulting debt remains manageable.

Since 1970,the federal government budget has never been in surplus.

The U.S.federal budget is determined exclusively by Congress.

A budget philosophy using fiscal policy to achieve the economy's potential GDP,rather than balancing budgets either annually or over the business cycle,is termed:

Identify the incorrect statement about the U.S.federal deficit.

An annually budgeted budget can only be met if automatic stabilizers are effective.

Which of the following would decrease the size of a federal budget deficit?​

Which of the following steps does not belong to the sequence of events reflecting the finance of a large government budget deficit?

In 2016,welfare spending accounted for almost _____ of federal outlays.

If the government decreased urban welfare payments by a dollar for every dollar increase in farm subsidies,which of the following is the likely net effect?

Federal deficits amounted to 3.5 percent of the U.S.GDP by 2003 because of:

The crowding in of private investment is associated with:

The President's budget is presented to Congress:

If a budget is cyclically balanced,the government should run a surplus when the economy experiences a contractionary gap.

The Economic Report of the President is prepared by:

Actual federal budgets are not an accurate measure of discretionary fiscal policy because:

Which of the following correctly describes the trend in the federal budget during the 1980s?