Q47. The 1990 Budget Enforcement Act provided that any entitlement increase, suc

Question

Q47. The 1990 Budget Enforcement Act provided that any entitlement increase, such as adding a prescription drug benefit for the elderly on Medicare, must be combined with an equal mechanism to fund the new benefit in what is known as the
   a. Equal Authorization principle.
   b. reciprocity condition.
   c. Enabling Act.
   d. substitute funding requirement.
   e. pay-as-you-go principle.

Q48. One explanation for why Keynesian economic policies do not seem to work in the real world is that
   a. government lacks the political will to raise or cut taxes and expenditures as rapidly as a situation requires.
   b. Keynes's theories can be used only in a socialist command economy.
   c. Keynes is an outmoded theorist now rejected by both liberals and conservatives.
   d. Keynes did not anticipate the complexity of twentieth-century economies.
   e. the basis of the theory relies on non-market factors to work.

Explanation / Answer

47. Pay as you go principal.

48.Keynes didnot anticipate the complexity of twentieth century economies

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