Question 1

Concerning government spending, which of the following is true?

Accepted Answer

This choice accurately states that real federal spending per person has increased substantially over time. Choices A and B contain inaccuracies about historical spending levels.

Question 2

In 1960, spending on income transfers and health care accounted for 21.5 percent of the federal budget. Today these two items account for

Accepted Answer

D

Question 3

Compared to the situation prior to 1980, the top marginal personal income tax rate imposed on the rich is now substantially

Accepted Answer

C

Question 4

Given the current structure of the Social Security and Medicare programs, the retirement of the baby boom generation during the years following 2012 will be most likely to

Accepted Answer

The retirement of the baby boom generation will lead to an increase in government expenditures on both health care and income transfers. This is because Social Security and Medicare are both funded through payroll taxes on current workers, and as more baby boomers retire and begin to receive benefits, there will be fewer workers paying into the system. This could potentially lead to funding shortfalls and increased pressure on the federal budget to cover the costs of these programs.

Question 5

During the first 125 years of the United States,

Accepted Answer

The answer of During the first 125 years of the...

Question 6

What percentage of the total government expenditures of the United States is undertaken at the federal level?

Accepted Answer

The answer of What percentage of the total government expenditures...

Question 7

Real (adjusted for inflation) federal spending per person in the United States

Accepted Answer

Real federal spending per person has increased significantly over the years, with an increase of approximately 10 percent per decade since the founding of the nation. However, in recent years, it has reached levels that are approximately 75 times the level of 1916 when adjusted for inflation. This suggests that federal spending has increased significantly in recent years compared to earlier periods.

Question 8

During the last four decades, the composition of federal spending has

Accepted Answer

Over the last four decades, there has been a shift in federal spending away from national defense and towards spending on income transfers and health care. This is evidenced by the increasing share of spending on programs such as Social Security, Medicare, and Medicaid, as well as the expansion of the Affordable Care Act. While federal spending as a share of GDP has varied over this time period, the composition of spending has undergone significant changes.

Question 9

In 1960, more than half (52 percent) of federal expenditures were for national defense. Today national defense accounts for approximately

Accepted Answer

Today, national defense accounts for approximately 16 percent of the federal budget. This is a significant decrease from the 52 percent in 1960.

Question 10

Total government spending (federal, state, and local) sums to approximately

Accepted Answer

According to the most recent data from the Bureau of Economic Analysis, total government spending in the United States in 2020 was approximately 38 percent of GDP, which rounds up to 40 percent. Therefore, the best choice is C.

Question 11

Measured as a share of the economy, government spending

Accepted Answer

The answer of Measured as a share of the economy,...

Question 12

Government expenditures as a share of the U.S. economy are

Accepted Answer

Government expenditure as a share of the U.S. economy is smaller than most Western European countries but larger than a number of high-growth Asian economies. According to the World Bank, in 2019, government expenditure as a percentage of GDP in the United States was 37.7%, while it was 40.8% in France, 47.6% in Germany, and 41.9% in the United Kingdom. However, government expenditure as a percentage of GDP was lower in high-growth Asian economies such as Singapore (17.2%), Hong Kong (19.7%), and South Korea (29.8%).

Question 13

Since 1960, the share of federal spending allocated to national defense

Accepted Answer

The answer of Since 1960, the share of federal spending...

Question 14

Government expenditures for Social Security and unemployment benefits are examples of

Accepted Answer

Social Security and unemployment benefits are transfer payments, which are payments made by the government to individuals without any goods or services being received in return. Therefore, they are not considered government consumption, investment, or purchases.

Question 15

Compared to the situation during the first 125 years of the United States (1790-1915), today total government expenditures are ____ share of the economy, and a greater proportion of those expenditures take place at the ____ level. (Fill in the blanks)

Accepted Answer

The answer of Compared to the situation during the first...

Question 16

During the last four decades, defense expenditures have

Accepted Answer

Defense expenditures have been declining as a share of federal expenditures.

Question 17

Which of the following is true about government spending?

Accepted Answer

Real federal spending per person has significantly increased over time. In the most recent fiscal year (2019), real federal spending per person was approximately 75 times higher than it was in 1916.

Question 18

How much does it cost to tax a dollar of revenue away from the private sector and transfer it to the government to finance a government program?

Accepted Answer

The answer of How much does it cost to tax...

Question 19

Measured as a share of the economy, government expenditures on ____ have declined during the last four decades.

Accepted Answer

According to data from the Office of Management and Budget, government expenditures on national defense as a share of the economy have declined from a peak of 9.5% in 1975 to 3.2% in 2020.

Question 20

In the most recent fiscal year, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for

Accepted Answer

The answer of In the most recent fiscal year, federal...

Quiz 20: Special Topics

Concerning government spending, which of the following is true?

In 1960, spending on income transfers and health care accounted for 21.5 percent of the federal budget. Today these two items account for

Compared to the situation prior to 1980, the top marginal personal income tax rate imposed on the rich is now substantially

Given the current structure of the Social Security and Medicare programs, the retirement of the baby boom generation during the years following 2012 will be most likely to

During the first 125 years of the United States,

What percentage of the total government expenditures of the United States is undertaken at the federal level?

Real (adjusted for inflation) federal spending per person in the United States

During the last four decades, the composition of federal spending has

In 1960, more than half (52 percent) of federal expenditures were for national defense. Today national defense accounts for approximately

Total government spending (federal, state, and local) sums to approximately

Measured as a share of the economy, government spending

Government expenditures as a share of the U.S. economy are

Since 1960, the share of federal spending allocated to national defense

Government expenditures for Social Security and unemployment benefits are examples of

Compared to the situation during the first 125 years of the United States (1790-1915) , today total government expenditures are share of the economy, and a greater proportion of those expenditures take place at the level. (Fill in the blanks)

During the last four decades, defense expenditures have

Which of the following is true about government spending?

How much does it cost to tax a dollar of revenue away from the private sector and transfer it to the government to finance a government program?

Measured as a share of the economy, government expenditures on ____ have declined during the last four decades.

In the most recent fiscal year, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for

Quiz 20: Special Topics

Concerning government spending, which of the following is true?

In 1960, spending on income transfers and health care accounted for 21.5 percent of the federal budget. Today these two items account for

Compared to the situation prior to 1980, the top marginal personal income tax rate imposed on the rich is now substantially

Given the current structure of the Social Security and Medicare programs, the retirement of the baby boom generation during the years following 2012 will be most likely to

During the first 125 years of the United States,

What percentage of the total government expenditures of the United States is undertaken at the federal level?

Real (adjusted for inflation) federal spending per person in the United States

During the last four decades, the composition of federal spending has

In 1960, more than half (52 percent) of federal expenditures were for national defense. Today national defense accounts for approximately

Total government spending (federal, state, and local) sums to approximately

Measured as a share of the economy, government spending

Government expenditures as a share of the U.S. economy are

Since 1960, the share of federal spending allocated to national defense

Government expenditures for Social Security and unemployment benefits are examples of

Compared to the situation during the first 125 years of the United States (1790-1915) , today total government expenditures are ____ share of the economy, and a greater proportion of those expenditures take place at the ____ level. (Fill in the blanks)

During the last four decades, defense expenditures have

Which of the following is true about government spending?

How much does it cost to tax a dollar of revenue away from the private sector and transfer it to the government to finance a government program?

Measured as a share of the economy, government expenditures on ____ have declined during the last four decades.

In the most recent fiscal year, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for

Compared to the situation during the first 125 years of the United States (1790-1915) , today total government expenditures are share of the economy, and a greater proportion of those expenditures take place at the level. (Fill in the blanks)