Which of the Following Reports Directly to the President

question 43

Multiple Choice

Which of the following reports directly to the president?

• A)Government Accountability Office (GAO)
• B)Appropriations Committees and subcommittees
• C)Budget Committees and subcommittees
• D)Office of Management and Budget (OMB)

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, primarily to keep it affordable for consumers.

Price

The anticipated financial cost, needed, or offered for a particular item or service.

Equivalent Variation

A measure of economic welfare change, quantifying the amount of money needed to bring a consumer to a utility level before a price change.

Utility Function

In economics, a mathematical representation that quantifies an individual's preference for certain goods or services, aiming to predict choice behaviors.