Asked by Jesus Armenta on Jun 19, 2024

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From 1960 to 2018, government purchases in the United States have shrunk as a percentage of GDP, but transfer payments have expanded greatly.

GDP

Stands for Gross Domestic Product, which measures the total value of all goods and services produced over a specific time period within a country's borders.

  • Understand the changes in government spending and tax structure from 1960 to 2018.
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NI
Nikkie ImperialJun 20, 2024
Final Answer :
True
Explanation :
From 1960 to 2018, the trend in the United States shows that while government purchases as a percentage of GDP have either remained relatively stable or slightly decreased, transfer payments (such as Social Security, Medicare, and other welfare programs) have significantly increased as a share of GDP. This reflects a shift in government spending from direct purchases of goods and services towards more redistributive transfer payments.