Which of the Following Is a Responsibility of the Office

question 2

Multiple Choice

Which of the following is a responsibility of the Office of Management and Budget?

• A)Assisting the President in preparing the federal budget.
• B)Resolving bid protests that challenge government contract awards.
• C)Keeping track of monetary assets and liabilities.
• D)Arranging for audits of federal agencies

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Definitions:

Economic Report

A document or presentation that provides analysis and information on the economic performance of an economy, sector, or market.

Positive Economics

A branch of economics that focuses on describing and explaining economic phenomena as they are.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the economy ought to be like.

Microeconomics

Microeconomics analyzes individual decision makers and markets, focusing on supply and demand, price, and output decisions in individual markets.