Between 1950 and 2010, Most of the Growth in Federal

question 21

Multiple Choice

Between 1950 and 2010, most of the growth in federal expenditures was a result of increases in

• A) Private sector purchases of goods and services.
• B) Direct expenditures.
• C) Income transfers.
• D) Public sector purchases of goods and services.

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Definitions:

White Knight

A person or company making a favorable investment in or purchase of a company as a strategic defense against a hostile takeover.

Tender Offer

A public, open offer or invitation by a prospective acquirer to all shareholders of a publicly traded corporation to tender their stock for sale at a specific price during a certain time.

Hostile Takeover

An acquisition attempt by one company of another that is resisted by the target company's management and board of directors.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with the care of money or property.