question archive Which of the following statements is correct? A
Which of the following statements is correct? A
Subject:EconomicsPrice:2.88 Bought3
Which of the following statements is correct?
A. National defense and health are the two largest spending categories for the federal government.
B. Welfare programs and highways are the two largest spending categories for state and local governments.
C. Sales taxes and property taxes are the two most important revenue sources for state and local governments.
D. Corporate income taxes are the largest source of revenue for the federal government.
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The correct option is A. National defense and health are the two largest spending categories for the federal government.
Explanation:
The Federal government makes budget to estimate their total revenue and expenditure within a year. According to the federal government's budgetary system, most of the revenue is spent on national defense and the healthcare system of the United States.
