ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Medicare
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national defense
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Social Security
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income security
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Detailed explanation-1: -For example, the Social Security Act requires the government to provide payments to beneficiaries based on the amount of money they’ve earned and other factors.
Detailed explanation-2: -Some examples of areas funded by discretionary spending are national defense, foreign aid, education and transportation.
Detailed explanation-3: -The three primary national spending categories are mandatory spending, discretionary spending and interest on the total national debt.
Detailed explanation-4: -Mandatory spending requires government expenses on programs mandated by law. Social Security and Medicare are the largest mandatory programs the U.S. government has to pay for. Congress establishes the mandatory programs.
Detailed explanation-5: -What Is the Federal Budget? The federal budget is an itemized plan for the public expenditures of the United States. It must be approved by Congress and signed by the president in order to release the money that finances all federal activities.