What Would Have Happened If the Debt Ceiling Had Not

question 49

Multiple Choice

What would have happened if the debt ceiling had not been raised in early 2011?

• A) The U.S. government would have raised taxes.
• B) The U.S. government would have been in default.
• C) The U.S. government would have increased borrowings.
• D) The U.S. government would have paid down debt.

Differentiate between input, output, and performance standards, and their importance in business operations.

Appreciate the importance of effective control processes and measurements for organizational success.

Understand the control process steps and the principles of management by exception.

Understand the components and purposes of various financial statements such as the Statement of Cash Flows and the Balance Sheet.

---

Definitions:

Self-Concept Change

Self-Concept Change involves the evolution or alteration of how one perceives, thinks about, and values oneself over time, often in response to experiences and reflection.

Introspection

The analysis or inspection of an individual's own cognitive and emotional activities.

Endowment Effect

The tendency for people to ascribe more value to things merely because they own them.

Ouija Board

A flat board marked with letters, numbers, and other symbols, used to attempt communication with spirits through a movable indicator or planchette.