Asked by Caroline Zoufaly on May 03, 2024
Verified
_____ in the United States relative to GDP increased from 37 percent in 1994 to 40 percent in 2013.
A) Interest rates
B) Government outlays
C) Government revenues
D) Unemployment rates
E) Government deficits
Government Outlays
The total expenditures made by the government, including spending on goods and services, transfer payments, and interest on debt.
Government Revenues
The income received by the government from taxes and non-tax sources used to fund public services and expenditures.
Interest Rates
The rate at which a borrower is charged interest for borrowing money from a lender.
- Acquire knowledge on what causes federal deficits and the consequences these have on the United States' Gross Domestic Product.
- Gain insight into the historical trends of U.S. government spending, revenue, and debt.
Verified Answer
RB
Renata BauteMay 06, 2024
Final Answer :
B
Explanation :
Government outlays relative to GDP increased from 37 percent in 1994 to 40 percent in 2013, indicating a rise in government spending as a proportion of the country's Gross Domestic Product.
Learning Objectives
- Acquire knowledge on what causes federal deficits and the consequences these have on the United States' Gross Domestic Product.
- Gain insight into the historical trends of U.S. government spending, revenue, and debt.