What is the difference between federal purchases and federal expenditures? A. The difference between federal purchases and federal expenditures is so small that it is generally ignored. B. Federal purchases and federal expenditures both require that the government receives a good or service in return. C. Federal purchases require that the government receives a good or service in return, whereas federal expenditures exclude transfer payments. D. Federal purchases require that the government receives a good or service in return, whereas federal expenditures include transfer payments. Are federal purchases higher today than they were in 1960? A. As a percentage of GDP, federal purchases have remained unchanged since 1960. B. As a percentage of GDP, federal purchases have decreased since 1960. C. As a percentage of GDP, federal purchases have increased since 1960. Are federal expenditures higher today than they were in 1960? A. As a percentage of GDP, federal expenditures have decreased since 1960. B. As a percentage of GDP, federal expenditures have remained unchanged since 1960. C. As a percentage of GDP, federal expenditures have increased since 1960.