Which of the following statements is TRUE?
A) Government spending as a percent of total national income has continuously decreased since the 1950s.
B) Transfer payments are money payments made by the government for which no goods or services are currently received.
C) Education is the largest category of federal government expenditures.
D) Transfers in kind include Welfare, Social Security, and unemployment insurance benefits.

Question

Quizplus · Accepted Answer

Transfer payments are payments made by the government for which no goods or services are immediately received in return. Examples of transfer payments include Social Security benefits, Medicare and Medicaid, and welfare programs. The other statements are all false.

Which of the Following Statements Is TRUE