Which of the Following Is Heavily Subsidized by State and Local

question 350

Multiple Choice

Which of the following is heavily subsidized by state and local governments?

• A) Medicare
• B) Social Security
• C) public education
• D) food stamps

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Definitions:

Tax

Tax is a compulsory financial charge levied by a government on individuals, corporations, or transactions to fund public expenditures.

Higher Prices

The result of increased costs, supply shortages, or higher demand for products or services, leading consumers to pay more.

Gasoline Tax

A tax imposed on the sale of gasoline, typically used by governments to fund transportation projects and other public goods.

Perfectly Elastic

A situation in which the quantity demanded or supplied changes infinitely in response to any change in price.