ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Social Security and Benefits
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Company tax
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Sales tax (GST)
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Fuel excise
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Detailed explanation-1: -Federal government spending pays for everything from Social Security and Medicare to military equipment, highway maintenance, building construction, research, and education. This spending can be broken down into two primary categories: mandatory and discretionary.
Detailed explanation-2: -Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources.
Detailed explanation-3: -Definition: Level of social security funds expressed as a percentage of general government expenditure on health.
Detailed explanation-4: -Public expenditure is spending made by the government of a country on collective needs and wants, such as pension, provisions, security, infrastructure, etc.