What special roles do the Budget Committees of the House of Representatives and the Senate play in creating fiscal policy?
What will be an ideal response?
Each year the Budget Committees of the House of Representatives and the Senate consider the budget proposed by the president, and develop their own ideas of how it should be modified. Eventually, formal conferences between the two houses resolve the differences between them and a series of spending acts and an overall budget act passed.
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The Board of Governors of the Federal Reserve System consists of
A) 7 members appointed by Congress and 7 appointed by the President. B) the presidents of each regional Federal Reserve bank. C) 12 members appointed by Congress. D) 7 members appointed by the President of the United States.
An increase in supply of a good is caused by:
A) resource prices rising. B) a fall in the price of the good. C) an increase in the number of sellers. D) expectations of future price increases.