For the federal government, what is the difference between discretionary spending and mandatory spending? What categories of spending account for the largest amount of the federal government's discretionary spending and mandatory spending?
What will be an ideal response?
Discretionary spending must be authorized by Congress each year, while mandatory spending does not need the authorization of Congress. National defense accounts for the largest portion of discretionary spending, and entitlement programs account for almost all mandatory spending, with Social Security alone making up about 31% of mandatory spending.
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The government agency that insures deposits held in banks in the United States is
A) the Federal Bank Insurance Corporation. B) the Federal Deposit Insurance Corporation. C) the Federal Asset Insurance Corporation. D) the Federal Reserve System.
In the United States during the Great Depression, tariffs were ________ than they were following World War II, and ________ than they are today
A) higher; higher B) higher; lower C) lower; lower D) lower; higher