ECONOMICS (CBSE/UGC NET)

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: -The four main areas of federal spending are national defense, Social Security, healthcare, and interest payments, which together account for about 70% of all federal spending. When a government spends more than it collects in taxes, it is said to have a budget deficit.

Detailed explanation-3: -The main areas of federal spending are national defense, Social Security, healthcare, and interest payments.

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.