The Budget and Impoundment Control Act of 1974 Requires

question 58

Multiple Choice

The Budget and Impoundment Control Act of 1974 requires

• A) each member of Congress to inform constituents of their votes on appropriations measures.
• B) the president to spend the funds that Congress has appropriated.
• C) a balanced budget by the 2030 fiscal year.
• D) the president to present an executive budget.
• E) budgets to receive the approval of the American people before they go into effect.

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Definitions:

Euros

The official currency used by the member states of the Eurozone, which is a monetary union of European Union (EU) countries that have adopted the euro as their primary currency.

Dollars

A unit of currency used in the United States and other countries, symbolized by the $ sign and used as a standard monetary unit.

Current Account

A financial statement within the balance of payments summarizing the flow of goods, services, income, and transfer payments into and out of a country.