From 1960 to 2015, as Percentages of U

question 119

Multiple Choice

From 1960 to 2015, as percentages of U.S. output, government purchases have

• A) declined, but transfer payments have increased significantly.
• B) remained about the same, while transfer payments have increased slightly.
• C) increased sharply, but transfer payments have also decreased significantly.
• D) increased slightly, while transfer payments have remained about the same.

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Definitions:

Deductions

Amounts subtracted from an employee's gross income to calculate taxable income, or expenses subtracted from gross revenue in accounting to determine net income.

Net Pay

The amount of money an employee takes home after deductions like taxes and retirement contributions have been subtracted from their gross pay.

Federal Insurance Contributions Act

A U.S. law that mandates the collection of Social Security and Medicare taxes from employees' paychecks and employers.

Employer Requirement

The obligations and duties that an employer must fulfill towards their employees, including wages, benefits, and working conditions.