The Largest Spending Category for State Governments Is

question 236

Multiple Choice

The largest spending category for state governments is

• A) welfare.
• B) health care.
• C) education.
• D) highway construction.

---

Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the free market equilibrium is not achieved due to market failures or interventions.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit of output varies with the level of production.

Marginal Revenue Curve

A visual representation that shows the additional revenue generated by selling one more unit of a good or service.

Collude

To engage in a secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.