Which of the following statements is CORRECT?
A. Since the mid-1940s, expenditures on income security and health programs have increased considerably as a percentage of total federal government spending.
B. Taken together, expenditures on national defense and on income security and health programs now account for less than half of all federal government spending.
C. Since the mid-1940s, expenditures on national defense have increased considerably as a percentage of total federal government spending.
D. Expenditures on national defense now account for more than twice as much federal government spending as expenditures on income security and health programs.
Answer: A
You might also like to view...
The primary objective of most private firms is to:
A. maximize output. B. maximize revenue. C. maximize profit. D. minimize cost.
In the United States, the growth rate of expenditures has been most volatile for
A) durable goods. B) nondurable goods. C) services. D) The volatility has been roughly equal for all three categories of consumption expenditures.
Which of the following explains the effect of prices on profits in the short-run?
a. The direct relationship between aggregate quantity demanded and national output. b. The direct relationship between aggregate quantity supplied and the price level. c. The inverse relationship between aggregate quantity demanded and national output. d. The inverse relationship between aggregate quantity supplied and profits. e. The inverse relationship between aggregate quantity supplied and national output.
Low productivity in the U.S. appreciates the dollar in the foreign exchange market
Indicate whether the statement is true or false