A(n)_____ is a budget philosophy that was followed prior to the Great Depression that aimed at matching annual revenues with outlays,except during war time.
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 annually balanced budget philosophy was followed prior to the Great Depression and aimed at matching annual revenues with outlays, except during war time. This meant that the government's annual budget had to be balanced or in surplus, with expenditures not exceeding revenues.

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