The following are government activities that are involved in public finance, except:
A. Providing public goods and services such as national defense and education
B. Running government-owned enterprises such as hospitals, utilities, and lotteries
C. Redistributing income through various taxes and income-transfer payments
D. Regulating the activities of firms in the financial sector of the economy
D. Regulating the activities of firms in the financial sector of the economy
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"Demand deposits" in commercial banks are
A) assets of both the non-bank public and the banks. B) assets of the depositors and liabilities of the banks. C) liabilities of the non-bank public and of the banks. D) liabilities of the non-bank public and assets of the banks.
All of the following are programs that redistribute income by making direct payments to people in the lower part of the income distribution EXCEPT
A) social security programs. B) welfare programs. C) Individual Retirement Accounts. D) unemployment compensation.