A(n) _____ is a budget philosophy that was followed prior to the Great Depression and aimed to match annual revenues with outlays, except during wartime.
A) annually balanced budget
B) annual surplus budget
C) biennial deficit budget
D) biennially balanced budget
E) cyclically balanced budget

Question

Quizplus · Accepted Answer

The description matches the annually balanced budget philosophy, which was predominant before the Great Depression and aimed to keep annual spending and revenue in balance, except during periods of war.

A(n) _____ Is a Budget Philosophy That Was Followed Prior