The Largest Single Portion of the Federal Budget Is Devoted

question 33

Multiple Choice

The largest single portion of the federal budget is devoted to

• A)National defense.
• B)Medicare and Medicaid.
• C)Social Security and unemployment compensation.
• D)Education.
• E)Interest payments on the national debt.

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Definitions:

Materials Cost

The total expense to an entity for all materials used in the production of a product or service.

Break-even Chart

A graphical representation used in financial analysis to show the point at which total costs and total revenue are exactly equal; thus, there is no loss or gain.

Break-even Point

The financial state where total costs and total revenues are equal, meaning there is no net loss or gain, and one has "broken even."

Break-even Chart

A graphical representation showing the relationship between total costs and total revenue at various levels of output, pinpointing where no profit or loss occurs.