public expenditure
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major reference
- In government budget: Composition of public expenditure
Expenditures authorized under a national budget are divided into two main categories. The first is the government purchase of goods and services in order to provide services such as education, health care, or defense. The second is the payment of social security and…
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economic forecasting
- In economic forecasting: Forecasting the GNP and its elements
…three major components: spending by government, private investment spending, and spending by consumers. Net exports (that is, exports minus imports) are also counted in the GNP but their magnitude, which may be positive or negative, is usually small. (For the nations that depend more heavily on foreign trade, like Japan…
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property tax
- In property tax: Tax rates
…a means of funding additional spending. When a strong demand for some particular service appears but officials prefer not to raise their “general fund” rates, a legislative body may vote to mandate a “special” rate. For example, U.S. state governments formerly used the property tax as a flexible element, relying…
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views of Coolidge
war finance
- In defense economics: Defense burdens worldwide
…account for major shares of government expenditures. In many low-income countries, these expenditures often exceed 20–30 percent of the state budget and more than 10 percent of the country’s GDP. The higher-income countries, while spending higher absolute amounts on defense, tend to spend smaller proportions of state expenditure (under 15…
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