True or False:
1. Government spending as a percentage of GDP has changed little since 1970, but the composition of government spending has changed considerably.
2. The composition of state and local spending is different from that of federal spending.
3. A large majority of government activity is finance by borrowing.
4. Neither the composition of U.S federal government spending nor its share of GDP has changed much since 1970.
5. Taxpayers in other parts of the developed world have heavier tax burdens than those in the United States.
6. Taxes on gasoline, liquor, and tobacco products provide as substantial portion of federal tax revenues.
7. The share of federal taxes going to Social Security and Medicare has risen significantly in recent years.
8. Most other countries rely less heavily on income-based taxes than the United States.