Asked by
Kayla Wallace
on Oct 13, 2024
Verified
Which of the following is true?
A) The United States spends more as a percentage of GDP than any other nation on foreign aid.
B) The largest federal government purchase of goods and services is Social Security.
C) Government purchases,but not transfer payments,are counted in Gross Domestic Product (GDP) .
D) Net interest on the national debt is only one percent of total federal government spending.
Gross Domestic Product
The total value of all goods and services produced over a specific time period within a country's borders.
Federal Government
The national government of a federated state, which encompasses the overall governing institutions and political authority of the country.
- Understand the framework and importance of the federal budget, encompassing the beginning of the fiscal year and principal outlays.
- Recognize the principal origins of tax income and patterns of governmental expenditure.
Verified Answer
BM
Learning Objectives
- Understand the framework and importance of the federal budget, encompassing the beginning of the fiscal year and principal outlays.
- Recognize the principal origins of tax income and patterns of governmental expenditure.