Which of the Following Is True of the Federal Budget

question 125

Multiple Choice

Which of the following is true of the federal budget?

• A)The federal budget is a plan that describes a government's monetary policy for the current financial year.
• B)The federal budget is a plan that describes a government's fiscal policy for the current financial year.
• C)The federal budget is a plan that describes the president's take on the economy.
• D)The federal budget is a plan for federal government outlays and revenues for a specified period,usually a year.
• E)The federal budget is a plan that describes the eligibility criteria of the major entitlement programs taken up by Congress for the current financial year.

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Definitions:

Reed Bank

A submerged reef in the South China Sea, known for its disputed territorial claims and rich natural resources.

Repossession

The process by which a creditor takes back property or goods from the borrower due to failure to make scheduled payments.

Defaulted

Refers to failing to fulfill a legal obligation, especially failure to pay a debt or appear in court as required.