Reference no: EM132402597

Please answer the following scenarios as being true or false.

a) Federal spending has decreased substantially in recent decades.

b) By world standards, the U.S. government controls a relatively small share of the U.S. economy.

c) A majority of the federal government's revenue is not collected through personal income taxes.

d) Education spending is larger at the state and local level than at the federal level.

e) State and local government spending has risen in recent decades.

f) Defense spending is lower now than ever.

g) The share of the economy going to federal taxes has decreased substantially over time.

h) Foreign aid is a small portion of federal spending.

i) Foreign deficits have been very small for the last two decades.

j) The accumulated federal debt as a share of GDP is near an all-time low.