Question: What are the most important spending items of the federal
What are the most important spending items of the federal government? Of state and local governments?
Answer to relevant QuestionsExplain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal lighthouse. If government decides, it can reduce defense spending and even spending on education to a penny, but it can't do that with Social Security. Why not? (Hint: Distinguish between a trust fund and discretionary government ...What are Treasury securities? Who owns them? Using 1990 as the base year (= 100), suppose Egypt's terms of trade in 2010 were 60. Explain what that means for Egypt in 2010 compared to Egypt in 1990. Is the United States a nation that believes in and promotes free trade? Trace the history of U.S. tariffs to make your point.
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