If a Balanced Budget Amendment to the U

question 19

Multiple Choice

If a Balanced Budget Amendment to the U.S. Constitution were passed, during an economic slowdown, such an amendment would

• A)necessitate a tax cut or spending increase or both
• B)necessitate a tax increase or spending cut or both
• C)necessitate an increase in interest rates
• D)have no impact

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Definitions:

Cheques

Financial instruments that instruct a bank to pay a specific amount of money from a person's account to another individual or entity.

Processed

Refers to items or data that have been altered, refined, analyzed, or prepared through a series of actions for a specific use or purpose.

Disbursement Float

The time lag between when a check is issued and when the funds are actually withdrawn from the issuer’s account.

Clear

To finalize or settle a transaction or an obligation, especially in the context of financial transactions.