Answer:
Government Debt
Social Security
Medicare
Other Health Care
National Defense
Veterans Benefits
Safety Net Programs
Education
Infrastructure
Salaries and Wages
Explanation:
8. education The children are our future—but you might not know it by looking at how federal funds are spent. Education is normally a relatively small discretionary spending item (about 7% of discretionary spending in 2019), and it often includes both K-12 education as well as spending on college, training, and employment services. It’s also worth noting that only around 8% of K-12 public school spending across the country is federal. The rest is covered by state and local funds.
9. Infrastructure
Infrastructure refers to physical structures and facilities that we depend on to function as a society. This includes buildings, roads, and power supplies.
As with education, infrastructure expenses are shared among federal, state, and local budgets. According to a report from the House Committee on the Budget, the total infrastructure spending across all these entities in 2017 was only 2.3% of GDP, or around $441 billion.
10. Salaries and Wages
Not including the military and other non-civilian workforces, the federal government employs more than 2 million people. That’s a lot of people to pay, which means a lot of spending on salaries, wages, and benefits. The federal government spends billions of tax dollars to cover these expenses every year.
Los Angeles County, California
and
Queens County, New York
Answer:
In many nations around the world, including the United States, an economic system known as the free market is used. This means that prices are determined by supply and demand with little control by the government.
On the flip side, some nations have a command economy. This means that prices are not determined by the free market but are instead set by the government. The government also determines what should be produced and how much.
Let’s look at a few examples. In a nation with a free economy, a manufacturer decides to produce a toy. Christmas is right around the corner, so the manufacturer releases a limited amount at a premium cost. Demand for the toy is high, and consumers are willing to pay more to receive the product. The manufacturer increases production immediately after Christmas because demand is still high. Then, as more people have acquired the toy, it’s less in-demand. The manufacturer then decides to slow down production and drop the price due to the decrease in demand.
Conversely, in a command economy, the manufacturer would have no say in what is produced, how much is produced, or the pricing. This would all be determined by the government. There is no competition in this type of economy. The government also oversees investments and incomes in a command economy.
Command economies are a feature of Communist nations. Nations that have this type of economy include:
Belarus
Cuba
Iran
Libya
North Korea
Russia
