BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The largest category of spending for state and local governments is ____
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Highways
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Education
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Fire and Police
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Medical Costs
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Explanation:
Detailed explanation-1: -State and local governments spend most of their resources on education and health care programs. In 2020, about one-third of state and local spending went toward combined elementary and secondary education (21 percent) and higher education (9 percent).
Detailed explanation-2: -Expenditures for elementary and secondary education are one of the main responsibilities of local governments and generally account for the largest part of the local government expenditures.
Detailed explanation-3: -CBO: U.S. Federal spending and revenue components for fiscal year 2021. Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources.
There is 1 question to complete.