A newly appointed government in the United States requests Congress to raise the amount of money that the government can borrow. This borrowed money is intended to be used to cover the costs of the major policies that the government plans to implement. In this scenario, the government has asked the Congress to hike its _____.
A) discount rate
B) fiscal cliff
C) debt ceiling
D) down payment

Question

Quizplus · Accepted Answer

The debt ceiling is the maximum amount of money that the U.S. government is authorized to borrow to meet its existing legal obligations.

A Newly Appointed Government in the United States Requests Congress