Analyze how federal budget decisions require trade-offs and choices
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Explanation:
Federal budget is dependent on many factors one of which is the priority of the state. When there is a need to increase the level of defense, the budget for defense must be increased. This increase in budget translates to a decrease in budget in another area.
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Explanation:
- Federal budget depends on many factors one of which is the State's priority. The defence budget must be raised when there is a need to increase the level of security. A budget increase turns into a reduction in another sector of the economy.
- The US federal budget covers the U.S. federal government's costs and taxes. The budget is the institutional reflection of government goals, which incorporates political controversies and conflicting economic ideologies.
Learn more about federal budget
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According to A Citizen's Guide to the Federal Budget, a budget surplus is defined as "an amount by which revenues exceed outlays." Paraphrase this definition and explain how it results in a surplus.
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