Budget deficit - Study guides, Class notes & Summaries

balanced budget situation in which total revenues raised by taxes equal the total proposed spending for the year. budget organization's plan for how it will raise and spend money during a given period of time. taxes, fees, and borrowing. The primary sources of government funds to cover the costs of the annual budget are budget deficit situation in which the government spends more than the amount of money it raises through taxes. budget surplus excess funding that occurs when government...

Budget deficit -:- Amount of money coming in falls below the amount spent (government) Revenues -:- Money the government brings in from taxes User fees -:- Charges levied by governments in exchange for services. Such fees constitute a type of hidden tax. Excise (sin) taxes -:- Taxes on alcohol, tobacco, and other similar products that are designed to raise revenues and reduce use. Estate taxes -:- Taxes levied on a person's estate or total holdings after that person's death ...

CDFM MODULE 3.1 What is the basic axiom of Fiscal Law? - ANSWER- The established rule is that the expenditure of public funds is proper only when authorized by Congress, not that public funds may be expended unless prohibited by Congress. U.S. vs McCollum (1976) "Where can the most authoritative source of information on the proper use of appropriated funds be found? Who is it published by?" - ANSWER- Principles of Federal Appropriations better known as the Red Book-- published by the GA...

Senior economists in the Executive Office of the President prepare agency budgets and submit them to Congress for approval. True or false? correct answers False. The Office of Management and Budget (within the Executive Office of the President) provides guidance to agencies regarding assumptions to use in preparing the budget. However, the agencies prepare the first draft budget and then consult with OMB. After consultation and revision, the president's budget is submitted to Congress by OMB. C...

Fiscal Policy - Answer the use of government spending and revenue collection to influence the economy what fiscal policy involves - Answer the government changing the levels of taxation and government spending in order to influence Aggregate Demand (AD) and the level of economic activity. Aggregate Demand - Answer the total level of planned expenditure in an economy (AD = C+ I + G + X - M) purposes of Fiscal Policy - Answer - Stimulate economic growth in a period of a recession....

CDFM Module 3.1 Questions and Answers Rated A Fiscal Law is based on the premise that Appropriations are only available for obligation and expenditure when specifically approved by the Congress, not that we can use appropriations unless specifically prohibited by Congress. GAO Principles of Federal Appropriation Law (The Redbook) The most authoritative source of information on the proper use of appropriated funds. Budget and Accounting Act of 1921 Required the President to submit an annual bud...

ECS1601 ASSESSMENT 2 2024 Which one of the following statements regarding government spending and the financing of such spending is incorrect? a. Personal income tax is the only source of revenue that can be used to finance government spending. b. The income received from state-owned enterprises forms part the sources of revenue for government. c. Government spending can be financed through taxation and borrowing. d. The difference between government spending and taxation is called the budg...

WISE Vocabulary Question and answers already passed 2024/2025 WISE Vocabulary Budget - correct answer (Noun) A plan for managing income and expenses (Verb) To plan or to manage income and expenses Income - correct answer Earnings or payment received for resources provided such as labor Expenses - correct answer Costs incurred or the spending of money Fixed Expenses - correct answer Expenses or amounts you have already committed to spending that generally stay the same from m...

Bloomberg Course 1: Part 3 - Fixed Income Latest Update Graded A+ 2 Bond yield drivers 1. Credit Risk 2. Macroeconomics 2 credit risk indicators 1. Credit ratings 2. Credit default swaps 2 factors which influence Central bank decision making 1. Inflation measures 2. Output gap 2 Tools of central bank 1. Short term interest rates 2. Statements 3 Inflation measures 1. GDP deflator 2. CPI 3. CPCE 3 Risk factors for bond holders/buyers 1. Default 2. Inflation 3. Rise i...

Chapter 2 The Measurement and Structure of the National Economy Learning Objectives I. Section Goals A. Differentiate among the three approaches to national income accounting (Sec. 2.1) B. Explain how GDP is measured (Sec. 2.2) C. Discuss the measurement of aggregate saving and its relation to wealth (Sec. 2.3) D. Explain the calculations of real GDP, price indexes, and inflation (Sec. 2.4) E. Define real and nominal interest rates (Sec. 2.5) II. Notes to Ei...