Since 1970, the composition of federal expenditures has:
a. been virtually unchanged, but federal spending as a share of GDP has declined substantially.
b. been virtually unchanged, but federal spending as a share of GDP has increased sharply.
c. shifted away from national defense and toward spending on income security.
d. shifted away from income security income transfers and toward spending on national defense.
c
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A good or service or a resource is rival if
A) it is possible to prevent someone from enjoying its benefits. B) it is not possible to prevent someone from enjoying its benefits. C) its use by one person decreases the quantity available for someone else. D) its use by one person does not decrease the quantity available for someone else.
Which of the following is the best example of public investment?
A. Salaries of senators and representatives. B. Government expenditures on food stamps. C. Construction of highways. D. Funding of regulatory agencies.