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which one of th following is th objective of fiscal responsiblity and budget management act ?
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How will a contraction fiscal policy affect a budget deficit?
A fiscal policy is when a government passes an act to spend money to help stimulate the economy. This will create a larger deficit in the national budget. This can only be made up of taxes to the working classes of people.
What is a budget deficit?
A budget deficit is when the finances of a something exceeds its revenue. This basically means they have spent too much money.
What did the Gramm-Rudman-Hollings Act do?
The Balance Budget and Emergency Deficit Control Act is popularly known as the Gramm-Rudman-Hollings Act after the names of its principal sponsors, and was designed to reduce the federal budget deficit around the 1980s.
Why is fiscal policy necessary?
The fiscal policy is necessary to try to achieve macro economic objectives. These include, full employment, stability of internal and external values of the currency, equality and growth and development,etc. The fiscal policy consists of the government expenditure, income and the budget. The government must use the fiscal tools to achieve these objectives but this can be very tricky. At the end of the day it would be ideal if it could maintain a balanced budget (where expenditure is roughly equal to income). If it fails to do so, then there could be huge problems for the economy. By adjusting expenditure and income (mostly taxes) it can influense the entire economy, so its a delicate balancing act since most actions bring about both positive and negative concequences. Say for example, the government spends too much money on things, it will have to find a way to pay all the bills anway, so they will have to borrow money and in doing so there will be a budget deficit (spending more than you have), inflation, and a squeeze in the funds available for the private sector (if the government enters the private sector to get money, ex. banks)
What months are quarterly for a fiscal year?
The U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered. Prior to 1976, the fiscal year began on July 1 and ended on June 30. The Congressional Budget and Impoundment Control Act of 1974 stipulated the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the "transitional quarter" from July 1, 1976 to September 30, 1976. As stated above, the tax year for a business is governed by the fiscal year it chooses.For example, the United States government fiscal year for 2010 ("FY 2010" or "FY10") is as follows:1st Quarter: October 1, 2009 - December 31, 20092nd Quarter: January 1, 2010 - March 31, 20103rd Quarter: April 1, 2010 - June 30, 20104th Quarter: July 1, 2010 - September 30, 2010This three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
What organization was established to review the appropriateness of hospital care with the passage of the Tax Equity and Fiscal Responsibility Act of 1982?
SSA
How will a contraction fiscal policy affect a budget deficit?
A fiscal policy is when a government passes an act to spend money to help stimulate the economy. This will create a larger deficit in the national budget. This can only be made up of taxes to the working classes of people.
Disaster management in the US was the responsibility of what organization prior to the Patriot Act?
Homeland security
What US federal law was enacted to specify the budget and expenditures of the US department of defense each fiscal year?
National defense authorization act
Social responsibility of a business management to society?
Businesses have a social responsibility to act ethically. When businesses act ethically, they are able to increase their profits because more customers will choose to purchase from them.
What were the main reforms passed by the Republicans when they took control of the House in 1995?
The Contract with America, which included the folowing acts: The Fiscal Responsibility Act The Taking Back our Streets Act The Personal Responsibility Act The American Dream Restoration Act The National Security Restoration Act The "Common Sense" Legal Reform Act The Job Creation and Wage Enhancement Act The Citizen Legislature Act
What is the U.S. Federal law that is enacted to specify the budget ane expenditures of the U.S. Department of Defence each fiscal year?
National Defense Authorization Act
What does TEFRA stand for?
TEFRA stands for Tax Equity and Fiscal Responsibility Act of 1982. It was United States federal law that rescinded some of the effects of the Kemp-Roth Act passed the year before.
Why was the congressional budget office created in 1974?
The 1974 Congressional Budget and Impoundment Control Act modified the role of Congress in the federal budgetary process. It created standing budget committees in both the House and the Senate, established the Congressional Budget Office, and moved the beginning of the fiscal year from July 1 to October 1.
What was the Production Budget for Act of Valor?
The Production Budget for Act of Valor was $12,000,000.
What is Federal Budget Process Budget and Impoundment Act?
The United States federal law that controls the Congress role in the budget process is the Congressional Budget and Impoundment Control Act of 1974. The Act removed the impoundment power of the president.
What elements of Newt Gingrich's Contract With America did Bill Clinton adopt?
Bill Clinton adopted several elements of Newt Gingrich's Contract With America, including welfare reform, which led to the creation of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. He also supported fiscal responsibility, working with Republicans to pass the Balanced Budget Act of 1997. However, Clinton did not support all aspects of the Contract, notably opposing the proposed constitutional amendment for term limits for members of Congress.
