Budgeting
Quiz objective:
Understand the budgetary process and the various reforms attempted.
1.
The federal government begins its budgetary process many months in advance. Why might this be a concern?
A) agencies are too busy spending this year's money to worry about how much they will get next year
B) The GAO has not yet finished auditing the previous year's budget
C) it might be making spending and revenue decisions based on economic projections that may not be true
D) all of the above
E) none of the above
2.
This law was an attempt by Congress to regain some of its lost budgetary power. It created Budgetary Committees in both houses of Congress as well as the Congressional Budget Office.
A) The Budgeting Act of 1975
B) The Congressional Budget and Impoundment Act of 1974
C) The Congressional Prerogative Act of 1974
D) The Watergate Act of 1975
E) The Appropriations Act of 1974
3.
A(n) ____________________ is a presidential request to delay spending money on a project that has been authorized by Congress.
A) impoundment
B) recission
C) execution
D) authorization
E) deferral
4.
Which of the following would NOT be considered an uncontrollable expenditure?
A) interest on the debt
B) money to ensure the enforcement of environmental laws
C) Social Security payments
D) Medicare payments
E) All of the above are uncontrollable expenditures
5.
Many of the budgetary reforms have focused on this problem.
A) too much military spending
B) deficit reduction
C) delay in passing the federal budget
D) providing the president with more power
E) none of the above
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