Spending for National Defense Reached Its Highest Level as a Percentage

question 15

Multiple Choice

Spending for national defense reached its highest level as a percentage of the budget in the

• A)1940s.
• B)1950s.
• C)1960s.
• D)1980s.
• E)2000s.

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Definitions:

State Tax

Taxes imposed by individual states on income, property, goods, and services within their jurisdiction.

Federal Tax

The tax levied by the national government on income, sales, gifts, and other transactions.

After Tax Yield

The income return on an investment after taxes have been deducted, revealing the net gain to the investor.

Corporate Bond

A debt security issued by a corporation and sold to investors, with the promise of interest payments and the return of principal at maturity.