A Decision by the Department of Finance to Reduce Spending

question 49

Multiple Choice

A decision by the Department of Finance to reduce spending in order to balance the government's budget is an example of _________ policy.

• A) aggregation
• B) fiscal
• C) monetary
• D) structural
• E) productivity

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Definitions:

Installments

Periodic payments made towards settling a debt or purchasing a good, spreading out the total cost over a period of time.

Fair Credit Reporting Act

A federal law that regulates the collection, dissemination, and use of consumer credit information to ensure accuracy and privacy.

Fair Debt Collection Practices Act

A US federal law aimed at preventing abusive, deceptive, and unfair practices by debt collectors when collecting debts.

Open-end Credit

A pre-approved loan between a financial institution and borrower that can be used repeatedly up to a certain limit and can be repaid prior to payments coming due.