What is the major difference between the revenues and expenditures of state and local governments and the revenues and expenditures of the federal government?
A. Unlike state and local governments, the federal government does not receive payroll taxes and does not spend a significant amount of its money on national defense; the federal government’s largest source of revenue and greatest expenditure are estate taxes and interest on the national debt, respectively.
B. Unlike state and local governments, the federal government does not receive taxes from corporations and does not spend a significant amount of its money on income security programs; the federal government’s largest source of revenue and greatest expenditure are interest on government loans and customs duties, respectively.
C. Unlike state and local governments, the federal government does not receive intergovernmental revenue and does not spend a significant amount of its money on education; the federal government’s largest source of revenue and greatest expenditure are personal income taxes and national defense, respectively.
D. Unlike state and local governments, the federal government does not receive tax revenue and does not spend a significant amount of its money on healthcare; the federal government’s largest source of revenue and greatest expenditure are intergovernmental revenue and federal employee salaries, respectively.
May I get some help? I believe it is A
For what country?
America
A is incorrect for the USA.
I would say C then?
Yes, C. The second half of that description gives it away!!
To determine the major difference between the revenues and expenditures of state and local governments and the federal government, we need to understand the sources of revenue and areas of expenditure for each level of government.
A. Unlike state and local governments, the federal government does not receive payroll taxes and does not spend a significant amount of its money on national defense; the federal government’s largest source of revenue and greatest expenditure are estate taxes and interest on the national debt, respectively.
The statement in option A is incorrect. The federal government does, in fact, receive payroll taxes as a significant source of revenue. Additionally, national defense is one of the major areas of expenditure for the federal government. Therefore, option A is not the correct answer.
B. Unlike state and local governments, the federal government does not receive taxes from corporations and does not spend a significant amount of its money on income security programs; the federal government’s largest source of revenue and greatest expenditure are interest on government loans and customs duties, respectively.
The statement in option B is incorrect. The federal government does receive taxes from corporations, and it also spends a significant amount on income security programs such as Social Security and Medicare. Therefore, option B is not the correct answer.
C. Unlike state and local governments, the federal government does not receive intergovernmental revenue and does not spend a significant amount of its money on education; the federal government’s largest source of revenue and greatest expenditure are personal income taxes and national defense, respectively.
The statement in option C is partially correct. The federal government does not receive intergovernmental revenue as a major source of revenue, unlike state and local governments. However, the federal government does spend a significant amount of money on education through various programs. Therefore, option C is not the correct answer.
D. Unlike state and local governments, the federal government does not receive tax revenue and does not spend a significant amount of its money on healthcare; the federal government’s largest source of revenue and greatest expenditure are intergovernmental revenue and federal employee salaries, respectively.
The statement in option D is incorrect. The federal government does receive tax revenue as its major source of revenue, with personal income taxes being one of the largest contributors. Additionally, the federal government spends a significant amount of money on healthcare programs such as Medicare and Medicaid. Therefore, option D is not the correct answer.
Based on the analysis of the given options, none of them correctly describe the major difference between the revenues and expenditures of state and local governments and the federal government. It would be best to choose another answer or seek further information.