The Political Functions of Government Differ from the Economic Functions

question 41

Multiple Choice

The political functions of government differ from the economic functions of government in that

• A) the political functions relate to income distribution while the economic functions relate to the way exchange is carried out.
• B) the political functions are performed at the federal government while the economic functions are at the state and local government levels.
• C) the political functions involve elections and the court systems while the economic functions involve taxation and transfers.
• D) the President deals with the economic functions while Congress deals with the political functions.

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Definitions:

Compounded Semi-Annually

Interest calculation method where the accrued interest is added to the principal sum twice a year, leading to an increase in future interest amounts.

Equal Payments

Regular payments of the same amount over a specified period, often used in loan repayment or investment plans.

Compounded Monthly

Interest calculated on the principal sum and also on the accumulated interest of previous periods of a deposit or loan, compounded every month.

Equal Payments

Payments that are the same in amount, typically referring to installments paid over a certain period of time.