Which of the Following Statements Is Correct

question 189

Multiple Choice

Which of the following statements is correct?

• A)National defense and Medicare are the two largest spending categories for the federal government.
• B)Welfare programs and highways are the two largest spending categories for state and local governments.
• C)Sales taxes and property taxes are the two most important revenue sources for state and local governments.
• D)Corporate income taxes are the largest source of revenue for the federal government.

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Definitions:

China's Agricultural Land

Refers to the area within China designated for farming activities, playing a critical role in the country's food security and economic development.

Private Sector

The part of an economy that is run by individuals and companies for profit, as opposed to being controlled by the government.

Market Oriented

An economic system or approach that prioritizes supply and demand as the primary forces in the market, promoting free competition among businesses.

Pure Capitalist Economy

An economic system characterized by private ownership of the means of production and the absence of government intervention in the market.