Which of the following statements is (are) correct?(x) One of the largest categories of federal government spending is Social Security and it is growingbecause the elderly population is increasing due to longer life expectancy for U.S citizens.(y) Although government spending on national defense includes weapons, military vehicles, and salaries ofmilitary personnel, tax revenue is not used to pay for those items.(z) The largest single expenditure category for most state and local governments is education.(x), (y) and (z)(x) and (y) only(x) and (z) only(y) and (z) only(x) only

Government budget is defined as a legal document which is prepared by the government or any other…

Answered: Which of the following statements is…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 22AA

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Which of the following statements is (are) correct?
1. (x) One of the largest categories of federal government spending is Social Security and it is growing
  
  because the elderly population is increasing due to longer life expectancy for U.S citizens.
2. (y) Although government spending on national defense includes weapons, military vehicles, and salaries of
  
  military personnel, tax revenue is not used to pay for those items.
3. (z) The largest single expenditure category for most state and local governments is education.
1. (x), (y) and (z)
2. (x) and (y) only
3. (x) and (z) only
4. (y) and (z) only
5. (x) only

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