Concerning Federal Spending, Which of the Following Is True

question 222

Multiple Choice

Concerning federal spending, which of the following is true?

• A) Real federal spending per person was approximately 50 times higher in 1900 than 1800.
• B) Real federal spending per person grew more rapidly during the 19^th century than during the 20^th century.
• C) Real federal spending per person was approximately 60 times greater in 1990 than in 1916.
• D) Real federal spending per person has decreased significantly since 1964.

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Definitions:

Leisure

Leisure refers to the time available to an individual when not engaged in work or essential activities, often used for rest, recreation, or personal interests.

Wage

The payment to labor for its contribution to the production process, typically calculated on an hourly, daily, or piecework basis.

Marginal Expenditure

Additional cost of buying one more unit of a good.

Factor of Production

Resource inputs used in the production of goods and services, typically categorized into land, labor, capital, and sometimes entrepreneurship.