U.S Postal Service spending is generally not included in total government expenditures. a. True b. False ANSWER a
Date: September 9th, 2020
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
In 2002, government expenditures as a percentage of GDP were lowest for which country? a. Sweden b. United States c. Germany d. France ANSWER b
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
