Federal Budget Economic Goals

Multiple Select

What are the two primary functions of government according to the economic goals of the United States?

• Provide healthcare and education

• Protect the nation's economy

• Provide assistance and economic security

• Ensure public safety and maintain infrastructure

Multiple Choice

How is the government usually run in a two-party system?

• By a single leader with absolute power

• By a coalition of multiple political parties

• By people with differing views and political ideologies

• Without any political parties

Multiple Choice

Who is responsible for creating the budget in the United States?

• The President alone

• Elected and appointed officials in the executive and legislative branches

• The Supreme Court

• State governors

Multiple Choice

What does it mean when the budget is 'balanced'?

• When the government spends more than it takes in

• When revenue and spending are equal

• When there is extra money left in the budget

• When the budget is approved by the Congress

Multiple Choice

What is a 'Budget Deficit'?

• The total amount of money a country owes

• Extra money left in a budget after all spending takes place

• A condition that occurs when the federal government spends more than it takes in

• When revenue and spending are equal

Multiple Choice

What is the national debt of the United States as of March 2022?

• $20.3 trillion

• $30.3 trillion

• $40.3 trillion

• $25.3 trillion

Multiple Choice

Which of the following is NOT one of the largest budget items of the United States?

• Social Security

• Medicare/Medicaid

• Defense/War

• Education

Drag and Drop

What is considered full employment in a country's economy?

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A 0% unemployment rate

A 4%-5% unemployment rate

A 10% unemployment rate

A 2%-3% unemployment rate

Dropdown

What do governments aim to achieve with economic equity?

Select answer

Drag and Drop

Why do governments want to ensure economic security and price stability?

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To increase taxes

To reduce economic risks and prevent instability

To control the total supply of money

To promote high inflation rates

Multiple Choice

What is the goal of economic efficiency for governments?

• To increase the complexity of economic policies

• To ensure that policies lead to efficient and full use of scarce resources

• To focus solely on economic growth

• To reduce the number of government programs

Multiple Choice

What is the consequence of an economy that does not grow, as mentioned in the text?

• Increased productivity and economic stability

• High unemployment, low productivity, and other negative situations

• Rapid economic growth and prosperity

• Decreased government spending

Dropdown

When does the federal government's fiscal year run?

Select answer

Multiple Choice

Who are involved at the beginning of the budget process in the Executive Branch?

• Department secretaries and the president

• Executive agency leaders and economic analysts from the White House

• Office of Management and Budget (OMB) only

• White House and Congress

Multiple Choice

What is the final step in the budget process in the Executive Branch?

• Department secretaries review the budget

• The budget is published in the media

• A complete budget document is submitted to the president for final review and approval

• The Office of Management and Budget (OMB) enacts the budget

Dropdown

During which months does Congress review the president’s proposed budget and approve spending and revenue bills?

Select answer

Drag and Drop

What power does Congress have in the budget process?

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The power to dismiss executive branch officials

The power of oversight

The power to implement the budget

The power to veto budget proposals

Dropdown

What percentage of the federal budget consists of uncontrollables?

Select answer

Multiple Choice

What is an example of an uncontrollable government expenditure?

• Military equipment purchases

• Infrastructure development

• Direct benefit payments and interest payments of the national debt

• Education funding

Drag and Drop

Which of the following is considered an entitlement?

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Temporary assistance for needy families

Social Security

National defense spending

Government subsidies for agriculture

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Entitlements are government expenditures that:

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Are optional and can be adjusted each year

Are one-time payments for special projects

Continue from one year to the next

Are only for military personnel

Drag and Drop

What does a large portion of discretionary spending go to pay for?

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Environmental protection

National defense and the Department of Defense (DO

Transportation

Criminal justice

Multiple Select

Besides defense, on what other areas does the government spend tax revenues?

• Education and healthcare

• Environment and transportation

• Criminal justice

• Arts and culture