Government Expenditures as a Percent of GDP in the United

question 662

Multiple Choice

Government expenditures as a percent of GDP in the United States

• A) are very high in comparison to the rest of the world.
• B) are smaller than for most other high-income industrial countries.
• C) are much smaller today than they were a century ago.
• D) are none of the above.

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Definitions:

Insurable Interest

(1) In contract law, a property interest in goods being sold or leased that is sufficiently substantial to permit a party to insure against damage to the goods. (2) In the context of insurance, an interest in a person’s life or well-being that is sufficiently substantial that insuring against the person’s death or injury does not amount to a mere wagering contract.

Title

The legal right to own, use, or dispose of property or assets.

Seller

refers to an individual or entity that offers goods or services for sale to consumers or other businesses.

Merchant

An individual or business engaged in the selling of goods or services, especially those involved in wholesale or retail trade.