What is a government budget?

a. It is a plan for spending government funds.

b. It is the difference between nominal GDP and real GDP.

c. It is the record of the amount of currency in circulation.

d. It is a plan for raising funds for the government.

The correct answer is A. A government budget is a plan for spending government funds.

Explanation:

A government budget is the financial document of the state or other power of public administration, which balances public revenue and public spending within a fiscal year. The budget constitutes the encrypted, joint and systematic expression of the obligations (expenses) that, at the most, can be recognized and the rights (revenues) that they are expected to settle during the corresponding yearly period.

Budget approval is one of the basic attributes of a country's congress or parliament, through the corresponding 'Budget Law', which is a legal norm dictated by this body at the end of the year (usually in the last days of December) that regulates everything related to the budgets for the following year. This law includes the list of expenses that may be exercised by the State as well as the income that it must achieve during the next year. In addition, it is a law of a mixed nature, since its function is legislative but also of control. Due to its special characteristics, the law of budgets may have special or different procedures for other laws.