Which Statement Is True

question 54

Multiple Choice

Which statement is true?

• A)Defense spending as a percent of the federal budget has steadily fallen since 1990.
• B)Today we spend as more on defense than the rest of the world combined.
• C)The largest federal government purchase is education.
• D)State and local government spending has been declining since the mid-1980s.

---

Definitions:

Efficient

Being efficient refers to achieving maximum productivity with minimum wasted effort or expense.

Tremendous Competition

A highly competitive market condition where numerous competitors strive intensely to win market share.

Financial Markets

Places or systems where financial instruments, such as stocks, bonds, and commodities, are traded between investors.

Efficient

The characteristic of being able to accomplish a task or function with the minimum waste of time and effort; effectiveness combined with resourcefulness.