Analyze how federal budget decisions require trade-offs and choices. how would you attempt to balance the federal budget? for example, would the defense budget be reduced to pay for an increase in transportation infrastructure? if so, why?

By implementing various fiscal policies.

Explanation:

The federal budget is designed by predicting the country's economic growth and fiscal policies. If the federal budget is not balanced properly it can lead to an economic slowdown. Various fiscal policies are implemented by the government to balance the federal budget such as taxes.  If the defence budget is in surplus it must be cut down to improve infrastructure.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

answer makes less frequent trips to the bank and firms make less frequent price changes;