Federal government expenditures account for more than two-thirds of the money spent in the public sector. a. True b. False ANSWER b
Date: September 9th, 2020
The deficit is financed through new taxes. a. True b. False ANSWER b
Date: September 9th, 2020
Social insurance taxes and individual income taxes comprise more than 80 percent of federal revenues. a. True b. False ANSWER a
Date: September 9th, 2020
State and local governments were smaller than the federal government in 1900. a. True b. False ANSWER b
Date: September 9th, 2020
Total government expenditure as a percentage of GDP is lower in the United States than in Sweden. a. True b. False ANSWER a
Date: September 9th, 2020
Which of the following is ¬¬not true? a. In the 1950s, federal defense expenditures were larger than federal human resource expenditures. b. In 1995, federal defense expenditures were less than five percent of GDP. c. Federal expenditures on defense exceeded federal human resource expenditures until 1989. d. Federal defense expenditures have been declining continuously since […]
Date: September 9th, 2020
When compared to national defense expenditures, human resources expenditures _____. a. declined substantially during the 1980s b. have remain stable since the 1950s c. are a smaller percentage of GDP d. have increased substantially since the mid 1960s ANSWER d
Date: September 9th, 2020
The difference between government receipts and government expenditures is called a _____. a. loss b. shortfall c. deficit d. debt ANSWER c
Date: September 9th, 2020
In 2003, the federal budget deficit was about _____ percent of gross domestic product. a. three b. zero c. seven d. ten ANSWER a
Date: September 9th, 2020
As a percentage of total federal revenues the corporate income tax has _____. a. increased since 1960 b. declined since 1960 c. fallen during the 1980s, but risen since 1992 d. remained fairly constant since 1960 ANSWER b
Date: September 9th, 2020
