The difference between government and state is that________________?
Correct answer: D. government is a process and the state is an abstract symbol
- A. government is symbol state is the process
- B. government is a process that includes the people who exercise political power
- C. the state is an abstract symbol of the political institution
- D. government is a process and the state is an abstract symbol
Explanation
Government is the process and set of institutions through which political power is exercised, whereas the state is the broader political entity represented in abstract terms. Thus, government is a process and the state is an abstract symbol or institution.
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About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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