Match Each Term with the Correct Statement Below

question 8

Short Answer

Match each term with the correct statement below.
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Definitions:

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides benefits for retirees, disabled individuals, and survivors of deceased workers.

Personal Income Tax

A tax levied on individuals' earnings, including wages, salaries, and investment income, often progressive in nature.

Federal Expenditures

The spending by the federal government, including spending on defense, education, public welfare, and infrastructure projects.

National Debt

is the total amount of money that a country's government has borrowed, by various means, and has not yet repaid.