Since the 1950s, the Share of GDP Devoted to Government

question 74

Multiple Choice

Since the 1950s, the share of GDP devoted to government purchases has

• A) steadily increased.
• B) steadily decreased.
• C) remained fairly steady.
• D) increased, but only after recessions.

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Definitions:

Cash Receipts

Money received by a business or organization, including payments from customers, refunds, and interest earned.

Cash Sales

Transactions in which payment for goods or services is made at the time of sale, typically in cash or equivalent means.

Cash Register

A mechanical or electronic device for registering and calculating transactions at a point of sale.

Voucher System

A control procedure in accounting where vouchers are used to authorize and document transactions before payment is made.