Problem
1. Explain why federal, state, and local expenditures account for about 40 percent of GDP, but total government spending (G in GDP) is only about 20 percent of GDP.
2. Identify the major differences between federal government outlays and spending by state and local governments.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.