Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would have allowed him to do that?

Suppose that when he took office in January 2009, President Obama wanted to reduce the level of spending by the Drug Enforcement Administration during fiscal 2009. What budget procedure would have allowed him to do that?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 4AA

See similar textbooks

Related questions

Q: Show your steps clearly. 1. Suppose a consumer has a utility function U(x, y) = x0.5y0.5 and faces…

A: A utility function is an algebraic equation that describes a person's taste or satisfaction with a…

Q: Please explain briefing how fiscal policy works, what spending multipliers are, when is the spending…

A: Fiscal policy is how government spending and taxation is used to influence the economy. The main…

Q: Consider an economy that produces only DVDs and DVD players. Last year, 10 DVDs were sold at $20…

A: Nominal GDP will be un-adjusted for inflation. Nominal GDP takes into consideration the prices and…

Q: 5. Suppose the government decides to give producers of oil a subsidy per unit of labor hired.…

A: A subsidy is a type of financial assistance given by the government to people or organizations to…

Q: Suppose that there are 10 million workers in Japan and that each of these workers can produce either…

A: Opportunity cost is the cost of producing one good in terms of another. Opportunity cost shows the…

Q: Salima is a devoted coca cola consumer, whereas Antonia can drink either coca cola or Pepsi…

A: In economics, elasticity means the responsiveness of a variable to a change in another variable.…

Q: Suppose that Spain has a Gini coefficient of 0.5, France has a Gini coefficient of 0.4, and Germany…

A: The Gini coefficient (G) depicts the income inequality in an economy and it ranges from 0 to 1,…

Q: if marginal revenue equals $2 and marginal cost equals $3 at a certain output then.... a. the output…

A: Total revenue is the total value of the commodities produced and sold in equilibrium. Economic costs…

Q: Draw a graph that shows a pollution externality by plotting these points. This firm manufactures…

A: An externality or external cost in Economics is an indirect monetary gain or loss that happens to a…

Q: Suppose the initial budget constraint is: p₁x₁ + P2X2 = m. Then, a new government imposes an ad…

A: A tax that is proportional to the value of the goods (here, x1 and x2) being taxed is termed an ‘ad…

Q: The following graph illustrates the aggregate demand and aggregate supply curves for the U.S.…

A: The aggregate demand refers to the total demand for all finished goods and services at different…

Q: What is positive/negative selection of migrants? What determines whether migrants are positive…

A: Migration is the movement of people from one place to another with the intention of settling or…

Q: What type of relationship does labor productivity have with Aggregate Supply? O inverse O…

A: The aggregate production function depicts the relationship that real GDP changes when the quantity…

Q: How do corporations avoid paying their taxes? What is the government doing about this and do you…

A: Taxes: Taxes or charges are the compulsory fees imposed by the government on the individual and on…

Q: Cervantes wrote "For historians ought to be precise, truthful, and quite unprejudiced, and neither…

A: Economic History: Economic history is a subfield of history that studies the economic development of…

Q: Explain why Von Hayek believes the Dependence Effect is not a bad thing.

A: The Dependence Effect refers to an idea presented by economist John Kenneth Galbraith, which…

Q: Determine Jessa’s present worth of an annual payment of $2,500 at the end of each year for 12 years…

A: The present worth of a future sum of money can be calculated using a formula that takes into account…

Q: All of the following are examples of political risk for a U.S. company investing in a foreign…

A: When a US corporation invests in a foreign country, it may face a number of political risks. To…

Q: Explain the different methods concerning the cost benefit analysis (Health economics)

A: Cost-benefit analysis is a tool used in health economics to evaluate the economic efficiency of…

Q: 3. Profit Maximization with Limited Information. Joe Holiday is a monopoly provider of Fishing Reels…

A: In a monopoly market structure, There exists a single seller. The monopolist produces where the…

Q: What are the key characteristics of perfect competition? How does monopoly differ from perfect…

A: Market structure is the arrangement of firms in a market according to their competitiveness, pricing…

Q: Interest mate IS Y (Figure 1) Income, output (Figure 3) LM IS LM Expenditure (planned, PE actual, Y)…

A: IS-LM model is widely used to denote the simultaneous equilibrium in product and money markets.…

Q: In an open economy,a change in domestic net foreign asset depends on how much is saved, and on…

A: In an open economy, the domestic net foreign asset (DNFA) is decided by the difference among a…

Q: Refer to Table 11-6. Table 11-6. The table below applies to an economy with only two goods-…

A: CPI: CPI refers to the total expenditure made in a particular year by the consumers of the economy.…

Q: The incomes of five citizens from a hypothetical economy are in the accompanying table. Suppose the…

A: Income is the money received in exchange for one's work, services, or investments or the revenue…

Q: Price MC₂ MC,= S Quantity Figure 9 Demand curve and marginal private and social cost curves Towards…

A: Externality implies to spill-over effect of a goods or service on third party which is not…

Q: 100 200 300 400 OUTPUT (Billions of dollars) AD 500 600 hort run, the increase in consumption…

A: A stock market is a market where stocks are traded, including securities which are listed in…

Q: Use the information provided in Table 7.2 below to answer the question(s) that follow. Table 7.2…

A: Technology that mainly relies heavily on capital rather than the human labor are termed to be…

Q: 6. Fill in the blanks below: Initial Change G 1 C Taxes ↑ M 1X Transfer ayments Initial Amount $30…

A: In economics, the term "multiplier" implies the idea that an initial change in spending or…

Q: Suppose Coffee and Tea have a perfect substitute indifference curve, with Coffee on the X-axis and…

A: Perfect substitutes are those commodities which can be used in place of one another. For example,…

Q: ANSWER E PLEASE ONLY Consider the following portfolio choice problem. The investor has initial…

A: Risk in finance is termed as the uncertainty in business that leads to potential financial loss in…

Q: Figure One for the following 4 questions. If these conditions persist into the long run, the firm…

A: Average total cost is the sum of average fixed cost and average variable costs. The firm breaks even…

Q: a $1 billion increase in government spending will increase the aggregate demand by ---- billion

A: The overall demand for products and services in an economy is known as aggregate demand. It contains…

Q: 1. How many recessions did the US economy experience between 1929 and 2020 2. What were the four…

A: Business cycle shows a series of real GDP fluctuations in an economy as it expands. It goes through…

Q: According to economic theory, if trade opens up between a rich country and a poor country, the…

A: Trade alludes to the exchange of goods and services between at least two parties, typically for…

Q: Two friends, Karol and Manuel, like to drink kombucha (x₁) and matcha (x₂). Both X₁ and X2 are…

A: The utility function is the mathematical relationship between utility and different bundles of…

Q: In the context of the Heckscher-Ohlin Model, briefly explain Leontief’s Paradox and give examples of…

A: The H-O theorem defines the relationship and its direction between the relative prices of goods and…

Q: # Model: SI model of a closed economy # Model input Y-18000 # Output Cc-300 # Autonomous consumption…

A: Y=18000 C=300+0.8(Y-T) G=3000 I=3500-400r T=2500

Q: Give typing answer with explanation and conclusion August and François are the only sellers of…

A: The Cournot oligopoly is the one that best matches August and François' circumstances. Businesses…

Q: effect of fiscal and montary policy on economic growth in Zimbabwe

A: Macroeconomic policy is described as functions undertaken by governments to accomplish macroeconomic…

Q: P₁ bd/ B LRAS A -SRAS₁ SRAS₂ SRAS3 AD Y Y In the graph above, assume that the economy is currently…

A: The AD curve shows the total demand for all goods and services in an economy at different price…

Q: The price of shampoo increased. Choose the correct colored graph for conditioner, a related product…

A: Related goods are products that are either substitutes or complements to each other in the eyes of…

Q: 23. Arnold, Betty, Christine, Donald, and Elena receive incomes of $0, $400, $200, $100, and $300.…

A: Given: Arnold, Betty, Christine, Donald, and Elena receive incomes of $0, $400, $200, $100, and…

Q: onnections made between evidence and theory about GDP is reliable indicator of standard of living

A: GDP is refers to an indicator shows that how many goods and services are in an economy during the…

Q: Suppose that the tofu industry is initially operating in long-run equilibrium at a price level of $5…

A: A perfectly competitive market operates at the intersection point of market demand and market supply…

Q: Exercise 5.4 A company is producing and selling branded milk with the following total cost…

A: In economics, production decision is the action of settling the optimal level of production that a…

Q: Little Kona is a small coffee company considering entering a market dominated by Big Brewer. The…

A: There is a Nash equilibrium when no player can act alone to increase their payoff. However,…

Q: Demonstrate knowledge of global business concepts and cultural diversity in a business context.…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: Describe, in detail; how you can best fix the problem (provide pluses and minuses associated with…

A: The main problem which had been found was the company was stuck into the economic downturn phase…

Q: calculate Zara's 2021 revenue in 2007 real dollars.

A: Average CPI in 2007 = 207.34 Average CPI in 2021 = 270.97 Revenue in 2021 = $12.93 billion…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Drug Enforcement Administration

VIEW

Step 2: Budget procedure

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What type of control, if any, does the President have over the EPA (Environmental Protection Agency)?
The Federal Debt Reduction Commission recommended that both mortgage-related subsidies and tax breaks from the federal agencies that help middle- and lower-income families buy homes be scaled back or eliminated. The Obama administration has proposed taking the latter step, eliminating Fannie Mae and Freddie Mac but doing nothing about the incentives and tax breaks that benefit wealthier taxpayers. Is their proposal ethical? Why or why not?
Identify the link of necessity and luxury goods to tax revenue
Suppose when he took office in January 2009, President Obama wanted to reduce the level of spending by the DEA during fiscal year 2009. What budget procedure would have allowed him to do that? A. He could have requested executive transfers out of the Drug Enforcement Administration to the Department of Treasury impoundment fund. B. Congress could have approved a recession. C. He could have requested a financial audit of the DEA. D. He could have created a new governing policy or federal law.
In a response to public outcry over the Internal Revenue Service's (IRS) extent and abuse of power, the Federal government has decided to disband the IRS in favor of creating a new administrative agency to oversee taxation. As a business owner, what steps might you be able to take to ensure there are control's and limits to the agency's power? How does this compare with the controls available to branches of the government?
What items are part of mandatory spending in the federal government?
Nobel Prize-winning economist Gary Becker suggested that prohibited drugs should be legalized and then taxed. This would the seller's cost and government revenue. a) increase; decrease b) decrease; increase c) increase; increase d) decrease; decrease
Government spending on programs such as Social Security and Medicare are included under: discretionary spending emergency spending mandatory spending budget revenues
Problem 6-9 Demand change effects on government revenue The market for Titanium has supply given by P = Q and demand given by P = 12 - Q. The government introduces a tax of €3/g. Yet, the market experiences growth in the demand for titanium because of new-found medical uses. The new demand curve is P= 13 - Q. Find the change in government tax revenue due to the increased demand for titanium. (Round your answer to one decimal place.) € million
During the Trump Presidency the administration sought to reduce the research budget of many federal agencies including the National Institutes of Health. Bloomberg reported: President Donald Trump is proposing big cuts to biomedical research as part of a budget to reduce discretionary spending at the Department of Health and Human Services by 23 percent -- a move likely to provoke outcry from lawmakers, research groups, drugmakers and patients. The proposal would cut the budget of the National Institutes of Health -- which conduct and fund medical research by $5.8 billion, or about 18 percent from 2017 levels. The Office of Management and Budget called the change "a major reorganization of NIH's institutes and centers to help focus resources on the highest priority research and training activities." "We believe that this cut is dead on arrival on Capitol Hill," said Spencer Perlman, an analyst at Veda Partners. Democrats and Republicans have in the past supported the research agency…
Government spending in the federal budget that Congress can adjust as it wishes is called
How might special interest groups and lobbyists influence campaigns and elections? Group of answer choices political party and influence legislation. They go door to door educating voters on campaign and election issues. While they do not participate in elections, they exercise a lot of influence through their relationships with elected officials. When politicians are elected to office, members of special interest and lobbyists take jobs working for that politician and in this way influence their work, campaigns, and elections.