Spending Authority Is Created in a Process Called

question 25

Multiple Choice

Spending authority is created in a process called

• A)authorization.
• B)appropriation.
• C)budgeting.
• D)economic policymaking.

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Definitions:

Earners

Individuals or entities that receive income through work, investment, or other means within an economic system.

Earned Income Tax Credit

A provision of the tax code that provides a credit or rebate to people with low earnings (income from work activities). The credit is eventually phased out if the recipient’s earnings increase.

Tax Credit

A tax incentive that allows taxpayers to subtract the amount of the credit from the total they owe to the government.

Government Cost

The financial expenses incurred by government entities in the execution of public functions and services.