Economics c10 Questions

In complete sentences, answer the following questions.

1. Name and describe the main two reasons for the massive increase in government spending since 1940.
2. What are the two main types of government spending and what impact do they have on the nation?
3. How is the Federal budget established?
4. How do governments determine how money is allocated?
5. Briefly describe the history of relationships between the US government and deficits and debt.
6. Briefly describe the impact of the national debt.
7. What are some ways you think might help our nation in dealing with the deficit?