Examlex
Which of the following statements is false?
Taxes
Mandatory financial charges or levies imposed by a government on individuals, corporations, or other entities to finance government spending and various public expenditures.
Government Spending
Government spending includes all expenditures by government bodies and institutions, ranging from infrastructure investment to public services and welfare benefits.
Reserve Ratio
This is the fraction of deposits that banks must hold in reserve and not lend out, as stipulated by central banking authorities.
U.S. Recession
A significant decline in economic activity across the United States, lasting more than a few months, typically visible in real GDP, income, employment, manufacturing, and retail sales.
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