Among the Major Spending Categories for State and Local Governments,which

question 284

Multiple Choice

Among the major spending categories for state and local governments,which of the following statements is correct?

• A)The biggest single expenditure is education.
• B)The public welfare category does not include the costs of administering some federal programs.
• C)As a general rule, spending on public schools and public universities exceeds that spent on all other services combined.
• D)Local services such as libraries, police, trash removal, fire protection, park maintenance, etc.collectively are a very small share of expenditures.

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Definitions:

Escrow Account

A financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction.

Profit Sharing Plan

A compensation structure where employees receive a share of the company's profits, usually allocated as part of their annual income.

Scanlon

A participative management approach that focuses on employee involvement in problem solving and decision making related to productivity improvement and cost reduction.

Rucker Plans

A profit-sharing plan where employee pay is linked to the productivity or profitability of a company, encouraging increased worker output and company success.