Economics Principles & Practices

Chapter 10: Government Spending

Self-Check Quizzes

1
According to the textbook, the per capita expenditure by federal, state, and local governments amounted to almost __________ for every man, woman, and child in the United States.
A)$5,300
B)$10,300
C)$15,300
D)$20,300
2
Social Security, welfare, unemployment compensation, and aid for people with handicapping conditions are examples of __________ payments, payments for which the government receives neither goods nor services in return.
A)compensation
B)transfer
C)closed
D)grant-in-aid
3
A transfer payment that one level of government makes to another is known as a ___________.
A)grant-in-aid
B)compensation
C)government transformation
D)fund switch
4
The __________ is an annual plan outlining proposed revenues and expenditures for the coming year.
A)federal contrivance
B)annual authorization
C)federal budget
D)annual stratagem
5
The largest category of federal government spending is __________.
A)transportation
B)national defense
C)medicare
D)Social Security
6
A(n) ____________ amendment is a constitutional amendment that requires that annual spending not exceed revenues.
A)spending revenue ratio
B)balanced budget
C)balanced revenue
D)annual spending
7
The largest category of state spending is _________ expenditures, funds that one level of government transfers to another level for spending.
A)discretionary
B)intergovernmental
C)transfer
D)educational
8
The largest category of spending by local governments is ___________.
A)higher education
B)elementary and secondary education
C)public welfare
D)highways
9
Historically, the federal budget was characterized by a remarkable amount of __________ spending, or spending in excess of revenues collected.
A)deficit
B)surplus
C)shortage
D)discretionary
10
The __________ is the total amount borrowed from investors to finance deficit spending by the federal government.
A)consumer debt
B)deficit spending
C)investor debt
D)federal debt
11
The __________ provision is a requirement that new spending proposals or tax cuts must be offset by reductions elsewhere.
A)crowding-out
B)exponential
C)appropriations
D)pay-as-you-go
12
Social Security, medicaid, medicare, agricultural price supports, retirement and health benefits, unemployment compensation, and some aids to the poor are called __________ because people are permitted to draw benefits if they meet the eligibility requirements.
A)transfers
B)consumer supports
C)entitlements
D)eligibility quotas
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