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Leona [35]
3 years ago
13

Government purchases are spending by the government on​ goods, services, and factors of production. Government expenditures repr

esent total government spending including​ goods, services, grants to state and local​ governments, and transfer payments. Since the​ 1950s, total government​ expenditures, as a percentage of​ GDP, have increased and total government​ purchases, as a percentage of​ GDP, have decreased . The major cause of these trends is A. there has been a major increase in the amount of transfer payments the government makes through programs such as Social Security and unemployment insurance. B. there has been a decrease in income tax rates for most households in the U.S. C. there has been a reduction in the nominal amount of government purchases on military as the U.S. does not engage in military conflicts. D. All of the above. Click to select your answer.
Business
1 answer:
Law Incorporation [45]3 years ago
6 0

Answer: A. there has been a major increase in the amount of transfer payments the government makes through programs such as Social Security and unemployment insurance.

Explanation:

Since the 1950s, the US government budget for Transfer Payments to Social Security Programs and Unemployment benefits has increased tremendously.

The main transfer payments are Disability and Pension/ Retirement payments and they have been on the rise since the 50s.

These Transfer Payments are both a show of Humanitarianism as well as a form of Economic Investment as they help stimulate the Economy during times or Economic Distress by pouring money into it.

A typical example would be the $1,200 that Congress voted to provide direct cash payments of which totaled around $250 billion in March this year to help Americans who were hit hard by the lockdowns that have crippled much of the American economy.

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