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14-3 Vocabulary

QuestionAnswer
Government spending that is required by law. Mandatory Spending
government spending that has to be authorized each year. Discretionary Spending
Social welfare programs with specific requirements. Entitlements
A government medical insurance program for low-income people. Medicaid
A plan for spending federal tax money Federal Budget
A 12 month period for which an organization plans its expendatures. Fiscal year
Specific amounts of money set aside for specific purposes. Appropriations
Money distributed to individuals who do not provide anything in return. Transfer payments
A transfer payment from the federal government to state or local governments. Grant-in-aid
The part of the economy owned by individuals or businesses. Private Sector
Created by: joannw15
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