The Cyclically Balanced Budget

question 303

Multiple Choice

The cyclically balanced budget

• A) is not easy to implement because of the time it takes to define stages of the business cycle.
• B) is mandated by federal law to be the responsibility of Congress.
• C) has political support because it is easy to cut spending and raise taxes.
• D) occurs over a period of five years.

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Definitions:

Composition

The operation of applying one function to the result of another to produce a third function.

Function

An arrangement between inputs and a cadre of sanctioned outputs, in which every input is designated a specific output.

Inverse Function

An inverse function reverses the operation of the original function, mapping the output back to its input.

Function

An alliance between a compilation of inputs and a list of legitimate outputs, where it's mandated that each input is attributed to only one output.