One of the Most Powerful Agencies in Washington, the __________

question 60

Multiple Choice

One of the most powerful agencies in Washington, the __________ assists in the preparation of the federal budget and monitors federal agencies throughout the year.

• A) Council of Economic Advisers
• B) Office of Management and Budget
• C) Department of Budget and Commerce
• D) House Ways and Means Committee
• E) Senate Budget Committee

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Definitions:

Income Distribution

How a nation’s total GDP is distributed amongst its population, a key factor in understanding economic inequality and wealth distribution within a society.

Inequality

Refers to the uneven distribution of resources or opportunities within a society, often manifesting in disparities in income, wealth, health, and access to services.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showing the proportion of total income earned by cumulative percentages of the population.

Income Distribution

The way in which total income is shared among individuals or groups within a society.