Foreign, domestic, fiscal, and monetary policy

A plan for how much will be spent on various things is called a

• surplus.

• budget.

• deficit

• securities

budget in which revenue is equal to spending 

• budget 
• operating budget 
• capital budget 
• balanced budget 

money that Congress is mandated, or required, by existing law to spend on certain programs or use for interest payments on national debt. 

• mandatory spending 
• discretionary spending 
• entitlement 
• budget 

social welfare programs that people are "entitled to" and benefit from if the meet eligibility requirements 

• mandatory spending 
• discretionary spending 
• entitlements 
• budget 

When spending is lower than revenue

• Budget Surplus

• Balanced Budget

• Budget Deficit

Which is considered discretionary spending (select all which may apply)

• national parks

• Medicare

• nuclear energy

• Interest on the debt

• education

Which of the following NOT considered mandatory spending?

• national parks

• Medicare

• medical assistance for low-income families

• Social Security

Accumulation of deficits year after year is called

• entitlements

• debt

• mandatory spending

• discretionary spending

The term used when annual spending is greater than annual revenue?

• balanced
• surplus

• deficit

Medicare and Social Security are also known as

• deficits

• discretionary spending

• entitlements

• for low income families