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- Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?Below are some budgeting techniques which are used rarely (or more often) by government agencies and corporations. Which answer is true? a. Encumbrance accounting is often used by corporations and rarely used by government agencies b. Flexible budgeting is rarely used by corporations and often used by govemment agencies C. Budget lapsing is often used by corporations and often used by government agencies d. Zero-based budgeting is rarely used by corporations and often used by government agenciesQuestion Answer these questions for the city of Glendale, California for their current budget. FY 2017-2018 Adopted budgethttp://www.glendaleca.gov/government/departments/finance/budget/budget-documents When does the budgeting process start and end for the current year? Which actor(s) starts the budget process? When does the fiscal year start and end? Are there instructions provided to agencies on how to prepare budget requests? Are those instructions detailed? What are the sources of revenue? Try to identify as many as you can.
- The table below presents the tax revenue and spending for the government over five years. Government Revenue and Spending Spending (billions of dollars) Budget Anount (billions of dollars) Tax Revenue (billions of dellars) $400 Budget (Cick to select) (Click to select) ♥ (Click to select) (Click to select) (Click to select) Year $300 S00 450 3. 150 550 4 200 200 700 500 Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign a. Under the "Budget Amount" column calculate the annual budget outcome. b. Under the "Budget" column determine whether the annual budget outcome is a budget surplus, budget deficit, or a balanced budget c Suppose the government has no debt entering into year 1. At the end of year 5, what is the government's level of debt? Enter your answer as a positive value %24 billionDescribe the following term in your own words. Balanced budgetPls help with below homework. In 1995, a proposed constitutional amendment that would require a balanced budget passed the U.S. House of Representatives by a wide margin and failed in the U.S. Senate by only one vote. As a result, the U.S. federal government doesn't have to run on a balanced budget by law, but a number of economists argue it should. What are some of the arguments that economists use to claim that a balanced budget is a good idea? What are the economic arguments presented by balanced budget opponents?
- Government spending in the federal budget that Congress can adjust as it wishes is calledWhich legislative action shifted the budget power from the executive branch to the legislative branch? a. Budget and Accounting Act of 1921 b. Congressional Budget and Impoundment Control Act of 1974 c. Balanced Budget and Emergency Deficit Control Act of 1985 d. Budget Enforcement Act of 1990The following levels of government determine a budget each year to show how much revenue the government expects to receive in taxes and other income and how the government plans to spend it: A, B, C, OR D a Federal only b State and federal only c Federal, state, and local d Local only
- Part A Decide whether each of the following fiscal policies of the federal government is expansionary or contractionary. Write expansionary or contractionary, and explain the reasons for your choice. 1. The government cuts business and personal income taxes and increases its own spending. Expansionary. The decrease in personal income taxes increases disposable income and thus increases consumption spending. The business tax cut increases investment spending, and the increase in government spending increases government demand. 2. The government increases the personal income tax , Social Security tax and corporate income tax Government spending stays the same 3. Government spending goes up while taxes remain the same. 4. The government reduces the wages of its employees while raising taxes on consumers and businesses Other government spending remains the same1. 2. 3. The working-age population in Concordia was estimated to be 6.5 million in a certain year. The country's labor department announced that the total number of unemployed people in the country had gone up to 460,000 during this year while, the total number of people out of the labor force decreased to 2,000,000. Oscar Lewis, a student of labor economics believes that the labor department data is flawed. The government of Concordia adopted expansionary fiscal policies in the last two years with the aim of increasing employment. However, the government has been unable to bring down the unemployment rate in the country. Which of the following, if true, best explains this outcome? OA The government implemented a generous welfare plan 3 years ago to support people who cannot find work. OB. The number of students who enroll for higher education is decreasing every year. Oc. During this period, the country's government reduced the limits on foreign direct investment in key sectors. OD.…Explain the difference between discretionary and automatic spending by the government.