The Time Required for Congress to Pass Bills Out of Committee,vote

question 293

Multiple Choice

The time required for Congress to pass bills out of committee,vote on bills,and the President to sign the new law to effectively deal with a recession is called the

• A)political lag
• B)education lag
• C)recognition lag
• D)decision lag

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Definitions:

Necessities

Essential items required for living, such as food, clothing, and shelter.

Taxes

Compulsory financial charges or other levies imposed on an individual or a company by a governmental organization in order to fund various public expenditures.

Discretionary Income

Discretionary income is the amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities have been paid.

Disposable Income

The amount of money an individual or household has available for spending and saving after taxes have been deducted.