1. The federal budget The following table lists federal expenditures, revenues, and GDP for the U.S....
2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP for the U.S. economy during several years. Revenues (Billions of dollars) 2,025 Outlays (Billions of dollars) GDP (Billions of dollars) Year 2000 1,789 9,817 2001 1,991 10,128 1,853 10,470 2002 2003 1,863 2,011 2,160 2,293 1,783 10,961 2004 1,880 11,686 Plot the data for revenues and outlays as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
10. Budget balances and the national debt The following table lists federal expenditures, revenues, and GDP for a hypothetical economy during several years. Year Expenditures (Billions of dollars) 1,653 GDP (Billions of dollars) 8,747 1998 2000 Revenues (Billions of dollars) 1,722 2,025 1,853 1,880 2,407 1,789 2002 2,011 9,817 10,470 11,686 13,178 2004 2,293 2,655 2006 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple...
5. Automatic adjustments to the government budget The following table provides some information on government expenditures (G) and tax revenues (T) at different levels of real GDP in a hypothetical economy. Throughout this problem you should assume that government transfers (TR) are zero. Real GDP (Billions of dollars) 460 Government Expenditures (G) (Billions of dollars) 72 72 72 Tax Revenues (T) (Billions of dollars) 70 72 74 540 Use the blue line (circle symbols) to plot the government expenditures schedule...
1. Economic fluctuations and growth Real GDP (Billions of dollars) 376 380 388 408 404 Year 2000 2001 2004 2005 2006 2007 2008 400 412 The grey line on the following graph shows the economy's long-term growth trend Use the blue points (circle symbol) to plot the real GDP in each of the years listed. Be sure to plot from ieft to right. Line segments will automatically connect the points. Next, place the green triangle on the graph to indicate...