Chapter 10 Questions

Question 0

Things that influence government spending.

Answer 0

Resource allocation, distribution of income, production in the private sector, and tax burden increases.

Question 1

What government spends its revenues on

Answer 1

Goods
services
transfer payments

Question 2

When does the federal government fiscal year begin

Answer 2

October 1

Question 3

What ageny prepares the federal budget

Answer 3

OMB

Question 4

What agency prepares appropriations bills?

Answer 4

House of sub committee

Question 5

Federal budget expenditures.

Answer 5

Social security 
National defense 
Income security 
Medicare 
Medicaid 
Interest on debt

Question 6

List of state government expenditures

Answer 6

Intergovernmental expenditures
Public welfare
Insurance trust and retirement
Education

Question 7

What are the three things gov spends money on

Answer 7

Education
Utilities
Public safety

Question 8

How does the national debt affect the economy?

Answer 8

Transferring purchasing power from the private sector to the public sector,reducing economic incentives, causing a crowd out effect redistributing income

Question 9

Ways the federal government attempts to control deficit spending.

Answer 9

Congress mandated a balanced budget amendment, instituted a pay as you go provision, line item vetos, spending caps, raising revenue, reducing spending.

Question 10

What are the major budget categories of the federal government?

Answer 10

Federal, state, and local