Question

In 2009, Federal spending accounted for 24.7% of GDP
a. true
b. false

Answer 1

Federal spending has not grown substantially, the U.S. government does control a large share of the U.S. economy, and personal income taxes are not the majority of federal revenue.

Step-by-step explanation:

a. False. Federal spending has not grown substantially in recent decades. While there have been fluctuations, it has remained relatively stable as a percentage of GDP.

b. True. By world standards, the U.S. government does control a relatively large share of the U.S. economy.

c. False. A majority of the federal government's revenue is not collected through personal income taxes. Other sources like corporate taxes and social insurance taxes contribute significantly.