Which of the Following Statements Is True of Budgets

question 72

Multiple Choice

Which of the following statements is true of budgets?

• A)In 15 states, the budget is prepared biennially but the governor proposes changes in the second year.
• B)Only two states-New Jersey and New York-have true biennial budgets.
• C)Governors seldom use their annual State of the State Address to present the budget recommendations.
• D)The final budget document is presented to the general public for adoption as an appropriations measure.
• E)State monies can be spent without legislative appropriations.

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Definitions:

Price Level

A general average of the ongoing prices for goods and services within the economic sector.

Foreign-Currency Exchange

The process by which individuals and entities convert currency from one country's currency into another, understanding the dynamic exchange rates between currencies.

Fed

The Federal Reserve System, which is the central bank of the United States, responsible for monetary policy and financial oversight.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash and deposits.