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Civics Ch.25 voc
| Question | Answer |
|---|---|
| budget | a plan for making and spending money |
| mandatory spending | federal spending required by law that continues without the need for annual approvals by congress |
| discretionary spending | spending for federal programs that must receive annual approval |
| appropriations bill | legislation earmarking funds for certain purposes |
| social security | federal program that provides monthly payments to people who are retired or unable to work |
| budget | a plan for making and spending money |
| mandatory spending | federal spending required by law that continues without the need for annual approvals by congress |
| sales tax | tax levied on a product at the time of sale |
| discretionary spending | spending for federal programs that must receive annual approval |
| appropriations bill | legislation earmarking funds for certain purposes |
| social security | federal program that provides monthly payments to people who are retired or unable to work |
| medicare | government program that provides health care for the aged |
| intergovernmental revenue | funds one level of government receives from another level of government |
| sales tax | tax levied on a product at the time of sale |
| property tax | tax on land and property |
| entitlement program | a program using eligibility requirements to provide health, nutritional, or income supplements ti individuals |
| subsidize | to aid or promote with money |
| surplus | situation in which quantity supplied is greater than quantity demanded; situation in which government spends less than it collects in revenues |
| deficit | situation in which government spends more than it collects in revenues |
| bond | contracts to repay borrowed money with interest at a specific time in the future |
| debt | money borrowed and not yet paid back |
| balanced budget | annual budget in which expenditures equal revenues |
| automatic stabilizer | program that when needed provides benefits to offset a change in people's incomes |
Created by:
jocelynmoses
Popular AP Comparative Gov. sets