1
money paid by one level of government to another level
of government
Intergovernmental revenue
2
occurs when the government spends more than it collects
occurs when the government spends more than it collects
3
reports revenue and spending for the year and sets
spending
goals for various categories
budget resolution
4
spending that requires no annual approval
mandatory spending
5
bank from which commercial banks borrow money
central bank
6
created dual banking
National Banking Act
7
a low-cost bank open only to employees of the group that sponsors it
credit union
8
an unintended consequence of an action that affects
parties not
involved in the action
externality
9
occurs when real GDP decreases for six months in a row
recession
10
the government's bank
the Fed