Exam 12: Federal Budgets and Public Policy

Which of the following is not a problem associated with the U.S.federal budget process?

Increasing U.S.trade deficits result in:

The debt ceiling is:

A spike in "All Other Outlays" of the federal government in 2009 was due to:

In 2009,the U.S.budget deficit was $1.4 trillion.

The budget of an economy is said to be in deficit when:

Other things remaining constant,higher trade deficits in the U.S.will lead to:

Deficits that arise from discretionary fiscal policy lead to:

The public sector grew the most in Japan,rising from 35 percent relative to GDP in 1997 to 39 percent in 2016.

Drawbacks of the federal government budget process include:

A disadvantage of having an annually balanced budget is that government spending would have to:

If the deficit is increasing because of the effects of automatic stabilizers,_____.

An annually balanced budget:

As a result of the increased deficit associated with discretionary fiscal policy,_____.

The opportunity cost of deficit spending is likely to be low:

Between 1990 and 2000,expenditures by the federal government on defense as a proportion of total federal spending increased.

Other things equal,an increase in defense spending will increase the budget deficit.

The national debt:

The federal budget has been in deficit in all but 9 years since 1960.

According to the budget philosophy of functional finance,_____.