Which of the Following Is Not True About Government Spending

question 1

Multiple Choice

Which of the following is not true about government spending on national defense?

• A)It is the third-largest spending category for the U.S.federal government.
• B)It includes salaries of military personnel.
• C)It fluctuates over time as the political climate changes.
• D)It is not financed with tax revenue.

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Definitions:

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and price setting.

Monopolistic Competition

An industry structure where several entities sell products that are similar in nature but not completely the same, thus giving them a slight edge in market power.

Differentiate

To recognize or ascertain what makes someone or something unique or distinct, especially in the context of products or services in the marketplace.

Industry Market Structure

The organization of a market based on the number of firms in the market, the nature of competition, and the extent of product differentiation.