5. Allocation of government expendituresFederal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 2016.Interest11%FederalAll other12%Health30%O TrueO FalsePensions andIncome Security33%NationalDefense14%Highways6.0%State and LocalAll other31%Education33%Health andPublic Welfare(includes healthand welfare andsocial services,not disability) 30%(Source: Bureau of Economic Analysis, "Government Current Expenditures by Function," National Income and Product Accounts Tables,www.bea.gov.)True or False: You can validly conclude from these pie charts that local governments do not spend enough on highways.

Public consumption, public investment, and transfer payments made up of capital transfers and income…

S. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 201 Federal All other 12% Interest 11% Health 30% Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and

S. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 201 Federal All other 12% Interest 11% Health 30% Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter18: Public Economy

Section: Chapter Questions

Problem 27P: Say that the government is considering a ban on smoking in restaurants in Tobaccoville. There are 1...

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