The Budget Control Act of 2011 Did Which of the Following

question 20

Multiple Choice

The Budget Control Act of 2011 did which of the following:

• A) Provided for a balanced federal budget by fiscal 2013.
• B) Established a PAYGO system for all federal tax and expenditure proposals.
• C) Increased the federal debt ceiling.
• D) Required that federal entitlement programs be reduced by 5 percent for the next three years.

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Definitions:

Gini Ratio

A scale measuring the degree of income difference among people in a demographic, with 0 symbolizing perfect equity and 1 symbolizing utter inequity.

Greater Inequality

A situation characterized by a wider disparity in income, wealth, opportunities, and other socioeconomic indicators among individuals or groups within a society.

Gini Ratios

Measures of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Income Inequality

The uneven distribution of income within a population, where earnings are not equally distributed among individuals or groups.