Exam 13: Public Financial Management

Legislation that provides budget authority for specific ongoing activities when the regular fiscal-year appropriation for such activities has not been enacted by the beginning of the fiscal year is known as a(n)

The progressive tax is best seen within the income tax structure.

The American Recovery and Reinvestment Act is an example of Maynard Keynes' "pump priming" efforts by government to stimulate the economy.

The Flat Tax:

Deficit financing:

Which definition best describes the process of zero-based budgeting (ZBB)?

The American Recovery and Reinvestment Act of 2009, is also known as the "Federal Stimulus."

Management consultant Peter Phyrr first developed the theory of___________, for Texas Instruments.

Public-private partnerships are joint efforts between local government and the federal government to pay for capital expenditures.

Which of the following are the timed steps in the budget cycle?

Municipal bonds are:

The costs of funding the Iraq War were seriously overestimated by the Bush administration's Office of Management and Budget.

When Standard and Poor's downgraded the U.S. debt rating in 2011, it created fear that government would not be able to repay its debts.

The traditional line item budget's weakness is that it does not show how well appropriations give "value for the money."

The government task force in 1912 that recommended the creation of a national budgeting system was the

Allocation is a term for ensuring that an appropriate level of funding flows into sectors of the economy where it is required.

"Program Budgeting," first proposed in the 1950s by David Novick of the RAND Corporation is a form of budgeting that does all of the following EXCEPT

Liberty bonds:

Budgeting is clearly minor component of the decision-making process in government, processes like implementation take precedence.

The individual who showed that government spending, as a macroeconomic policy, is critical for stimulating the economy was: