AP gov chapter 13 quiz

According to the graph, what was the approximate amount of national debt in 2015?

$18 trillion

What is the national debt?

All of the money the federal government has borrowed and not yet repaid

Which is an act of Congress that establishes or changes a government program?

Authorization bill

Which is an act of Congress that attempts to bind Congress to a total expenditure level for all programs in a given year?

Budget resolution

Which of the following does the sixteenth amendment permit?

Congress can levy income taxes

Which of the following pays the taxes permitted by this amendment?

Corporations and Individuals

Based on the graph, what is a budget deficit?

Difference when expenditures exceed revenues

Which of the following budgetary process actors does the President oversee?

Office of Management and Budget

What does federal government do when it is unable to cover its expenditures?

Sells bonds

Which of the following statements about income taxes is most accurate?

The government could not fund critical programs with a uniform tax rate

Which of the following statements about national debt is true?

The national debt grew at a faster rate after the 2008 economic recession

What is incrementalism?

The tendency for budgets to increase modestly from year to year

When does a balanced budget occur?

There is no budget deficit

Which of the following is the role of the Congressional Budget Office?

To advise Congress on consequences of its budget decisions

What is the purpose of continuing resolutions?

To allow agencies to continue to spend money even when Congress has not met its budgetary time table