Need help with this. Thanks! ### 1. Government Expenditures in the United StatesThe following data presents an overview of government expenditures as a percentage of GDP for selected years. The table illustrates different categories of federal expenditures as percentages of total federal government expenditures.#### Government Expenditures (GDP %)| Year | Federal | State and Local | Income Security | National Defense | Education and Health | Net Interest on Federal Debt | Others* ||------|---------|-----------------|-----------------|------------------|----------------------|----------------------------|--------|| 1950 | 16% | 7% | 13% | 32% | 2% | 11% | 42% || 1970 | 19% | 10% | 22% | 40% | 11% | 9% | 18% || 2020 | 31% | 12% | 48% | 11% | 15% | 5% | 14% |*Source: “U.S. Government Printing Office.”- **Federal and State/Local Expenditures:** Shows percentages of GDP allocated to government spending at federal, state, and local levels. - **Expenditures as a Share of the Federal Government Budget:** Breakdowns include: - **Income Security:** Benefits such as social security and unemployment. - **National Defense:** Military and defense-related spending. - **Education and Health:** Public education and healthcare services. - **Net Interest on Federal Debt:** Cost of interest payments on the national debt. - **Others:** Other federal expenditures not categorized above.This data provides insight into how government spending priorities and allocations have shifted over time. # Table: Government Tax Receipts (GDP %)### Federal Government Receipts Breakdown by Year| Year | Federal | State and Local | Individual Income Taxes | Social Insurance Taxes | Corporate Income Taxes | Excise Taxes | Others ||------|---------|-----------------|-------------------------|------------------------|------------------------|--------------|--------|| 1950 | 14% | 7% | 40% | 11% | 26% | 19% | 4% || 1970 | 19% | 10% | 47% | 23% | 17% | 8% | 5% || 2020 | 16% | 17% | 47% | 38% | 6% | 3% | 6% |### Statements to Evaluate1. **Between 1970 and 2020, national defense expenditures as a percentage of the federal budget grew, while income security expenditures as a percentage of the federal budget declined.**2. **The growth in total government expenditures since 1970 is largely due to increases in education.**3. **Total state and local government expenditures represented less than 5% of GDP in 2020.**4. **Between 1950 and 2020, total government expenditures (federal, state, and local combined) grew from about one-fourth of GDP to more than one-third of GDP.***Note: Federal Government receipts are categorized into individual income taxes, social insurance taxes, corporate income taxes, excise taxes, and others, with percentages corresponding to the given years.*

Nominal gross domestic product (GDP) is GDP provided in current prices without adjustment for inflation. Current price computations of GDP are obtained by expressing values of all goods and services produced in the current reporting period. Option A - This is incorrect.❌️ Between 1970 and 2020, national defense expenditures as a % of the federal budget grew, while income security expenditures as a % of the federal budget decreased. National defense expenditure as a percentage of the federal budget in 1970 = 40%, 2020 = 11%, which shows a fall in 2020. Income security expenditure as a percentage of the federal budget in 1970 = 22%, 2020 = 48%, which represents an increment in 2020. Option B - This is incorrect ❌️ because education and health expenditure was 11% in 1970 and 15% in 2020. That is a very insignificant increment; in fact, it can be seen that income security expenditure has doubled in this period, resulting in the growth of total government expenditures. Option C - This is incorrect. ❌️Total state and local government expenditures show 12% of GDP in 2011. Option D - Between 1970 and 2020, total government expenditures (federal, state, and local combined) grew from about 1/4 of GDP to greater than 1/3 of GDP. Total government expenditures = Federal + State and Local. In 1970 = 19% + 10% = 29%. In 2020 = 31% + 12% = 43%. 1/4 th of GDP = 25%, which is approximately equivalent to 29% and 1/3rd of GDP = 33.3%, and since 43% is greater than 33.3%, this statement is true.✅️

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vernment expenditures in the United States st table that follows shows approximate government expenditures as a percentage of GDP for selected years. For the same years, the first table hows different categories of federal expenditures as percentages of total federal government expenditures. The second table shows government venue as a percentage of GDP for the selected years. The second table also shows different categories of federal tax receipts as percentages of ederal tax receipts. (Source: "U.S. Government Printing Office.") Government Expenditures (GDP %) State and Local 7% 10% Year 1950 1970 2020 Federal 16% 19% 31% 12% Income Security National Defense 13% 22% Expenditures as a Share of the Federal Government Budget Net Interest on Education and Health Federal Debt 48% 32% 40% 11% 2% 11% 15% 11% 9% 5% Others* 42% 18% 14%

vernment expenditures in the United States st table that follows shows approximate government expenditures as a percentage of GDP for selected years. For the same years, the first table hows different categories of federal expenditures as percentages of total federal government expenditures. The second table shows government venue as a percentage of GDP for the selected years. The second table also shows different categories of federal tax receipts as percentages of ederal tax receipts. (Source: "U.S. Government Printing Office.") Government Expenditures (GDP %) State and Local 7% 10% Year 1950 1970 2020 Federal 16% 19% 31% 12% Income Security National Defense 13% 22% Expenditures as a Share of the Federal Government Budget Net Interest on Education and Health Federal Debt 48% 32% 40% 11% 2% 11% 15% 11% 9% 5% Others* 42% 18% 14%

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Chapter1: Making Economics Decisions

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### 1. Government Expenditures in the United States

The following data presents an overview of government expenditures as a percentage of GDP for selected years. The table illustrates different categories of federal expenditures as percentages of total federal government expenditures.

#### Government Expenditures (GDP %)

| Year | Federal | State and Local | Income Security | National Defense | Education and Health | Net Interest on Federal Debt | Others* |
|------|---------|-----------------|-----------------|------------------|----------------------|----------------------------|--------|
| 1950 | 16% | 7% | 13% | 32% | 2% | 11% | 42% |
| 1970 | 19% | 10% | 22% | 40% | 11% | 9% | 18% |
| 2020 | 31% | 12% | 48% | 11% | 15% | 5% | 14% |

*Source: “U.S. Government Printing Office.”

- **Federal and State/Local Expenditures:** Shows percentages of GDP allocated to government spending at federal, state, and local levels.

- **Expenditures as a Share of the Federal Government Budget:** Breakdowns include:
- **Income Security:** Benefits such as social security and unemployment.
- **National Defense:** Military and defense-related spending.
- **Education and Health:** Public education and healthcare services.
- **Net Interest on Federal Debt:** Cost of interest payments on the national debt.
- **Others:** Other federal expenditures not categorized above.

This data provides insight into how government spending priorities and allocations have shifted over time.

# Table: Government Tax Receipts (GDP %)

### Federal Government Receipts Breakdown by Year

| Year | Federal | State and Local | Individual Income Taxes | Social Insurance Taxes | Corporate Income Taxes | Excise Taxes | Others |
|------|---------|-----------------|-------------------------|------------------------|------------------------|--------------|--------|
| 1950 | 14% | 7% | 40% | 11% | 26% | 19% | 4% |
| 1970 | 19% | 10% | 47% | 23% | 17% | 8% | 5% |
| 2020 | 16% | 17% | 47% | 38% | 6% | 3% | 6% |

### Statements to Evaluate

1. **Between 1970 and 2020, national defense expenditures as a percentage of the federal budget grew, while income security expenditures as a percentage of the federal budget declined.**

2. **The growth in total government expenditures since 1970 is largely due to increases in education.**

3. **Total state and local government expenditures represented less than 5% of GDP in 2020.**

4. **Between 1950 and 2020, total government expenditures (federal, state, and local combined) grew from about one-fourth of GDP to more than one-third of GDP.**

*Note: Federal Government receipts are categorized into individual income taxes, social insurance taxes, corporate income taxes, excise taxes, and others, with percentages corresponding to the given years.*

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