Homework Answers
Use the formula Budget balance = Revenue - Expenditure
Here year 2005 and 2006 have budget surplus because budget balance is positive
Here year 2007 and 2009 have budget deficit because budget balance is negative
Year 2008 has a balanced budget because budget balance is 0
| Year | Expenditure | Receipts | Budget balance |
| 2005 | 0.75 | 0.8 | 0.05 |
| 2006 | 0.8 | 0.83 | 0.03 |
| 2007 | 0.87 | 0.86 | -0.01 |
| 2008 | 0.95 | 0.95 | 0 |
| 2009 | 1.06 | 1.02 | -0.04 |
Add Answer to:
Questions for Ch. 28 Government expenditures Tax receipts (trillions of (trillions of Year 2000 dollars) 2000...
Year Government outlays (trillions of 2009 dollars) Tax revenue (trillions of 2009 dollars) 2012 0.75 0.80...
Year Government outlays (trillions of 2009 dollars) Tax revenue (trillions of 2009 dollars) 2012 0.75 0.80 2013 0.80 0.83 2014 0.87 0.86 2015 0.95 0.95 2016 1.06 1.02 The table above gives a nation's government outlays and tax revenues for 2012 through 2016. During which years did the country have a budget surplus? A. 2012 and 2013 B. 2016 only C. 2015 only D. 2014 and 2016 E. all except 2015
The following table reports on GDP and government budget surplus or deficit for France (measured in...
The following table reports on GDP and government budget surplus or deficit for France (measured in dollars). a) For each year, calculate the surplus or deficit as a percentage of GDP. Instructions: Enter your responses rounded to two decimal places in the table below. If you are entering a negative number, use a negative (-) sign where appropriate. Fiscal Year GDP (Billions of dollars) Surplus or Deficit (−) (Billions of dollars) Surplus or Deficit as percentage of GDP 2006 2,160...
4. Evaluating fiscal policy Aa Aa The graph below shows an economy's government expenditures (G) ...
4. Evaluating fiscal policy Aa Aa The graph below shows an economy's government expenditures (G) and tax revenues (T) at different levels of real GDP G AND T Billions of dollars) 280 T 2008 270 260 250 240 230 220 210 200 600 640 680 720 760 REAL 00P (Bitions of dollars) Hee Clear AL Suppose the economy's full-employment level of real GDP is $680 billion. In 2006, the economy was operating at its full-employment output level, so the standardized...
Course: Topic: BUSI2003 Macroeconomics Fiscal Policy (billions of CS) Government Tax Government Surplus or National Revenues...
Course: Topic: BUSI2003 Macroeconomics Fiscal Policy (billions of CS) Government Tax Government Surplus or National Revenues Expenditure Deficit Debt 100 2007 2008 2009 2010 2011 2012 604 647 633 612 610 615 578 610 631 645 650 648 1. Why did the tax revenues decline from 2008 to 20117 2. If the economy experienced a severe recession from 2008, why didn't the Government expenditure decrease in those years? 3. How did the Government's budget balance evolve over time? 4. How...
9. Which of the following statements is (are) correct? (x) A budget surplus occurs when government receipts are more tha...
9. Which of the following statements is (are) correct? (x) A budget surplus occurs when government receipts are more than spending and a budget deficit occurs when government spending is more than receipts. (y) The most common methods that the U.S. government uses to finance the budget deficit is by borrowing solely from the Federal Reserve or printing currency in the amount of the budget deficit. (z) If interest rates remain constant, then government must spend a larger amount of...
Related to the Economics in Practice Federal government expenditures and receipts for the simple economy of...
Related to the Economics in Practice Federal government expenditures and receipts for the simple economy of the nation of Topanga are listed in the table below. The government of Topanga would like to reduce the debt-to-GDP ratio, and the Finance Minister of Topanga has proposed the following: "The best way to reduce the debt-to-GDP ratio is to increase GDP, because with a larger GDP, the ratio will have to get smaller. I therefore propose that government expenditures be increased by...
Answer five questions given the following data (all values are in billions of dollars): Year 2006...
Answer five questions given the following data (all values are in billions of dollars): Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Nominal Consumption Private Government GDP Expenditures Investment Purchases Exports Imports (GDP) (C) (0) (G) (X) (M) $ 13,178 $ 9,207 $ 2,220 $ 2,508 $ 1,481 $ 2,238 $ 13,808 $ 9,710 $ 2,130 $ 2,675 $ 1,662 $ 2,370 $ 14,291 $ 10,035 $ 2,087 $ 2,878 $ 1,848 $ 2,557 $ 13,939...
Year 2000 GDP Deflator (Price Index, 2009 = 100) 81.9 83.8 85.0 2001 2002 2003 2004...
Year 2000 GDP Deflator (Price Index, 2009 = 100) 81.9 83.8 85.0 2001 2002 2003 2004 2005 & 2007 Nominal GDP (in Billions of Dollars) 9,817 10.128 10.469 10,960 11,685 12,422 13,178 13,808 14,291 13,939 14,524 15,518 16,163 16,768 17,393 18,037 18,569 2008 2009 2010 2011 2012 2013 2014 2015 2016 100.0 101.2 103.3 105.2 106.7 108.8 110.0 111.4 Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2015 using 2007 prices. $0 billion b....
Multiple Choice: 1) Assume the MPC is 0.75 and lump sum taxes are collected by the government. What is the governm...
Multiple Choice: 1) Assume the MPC is 0.75 and lump sum taxes are collected by the government. What is the government tax multiplier? A)-1.33 B) - 25 C) - 75 D) -4 E) -3 , which the recessionary gap. 2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c Decrease, increases d) Increase, decreases 3) Suppose that the MPC is.75 and the US Federal Government reduces taxes by 10 million dollars. After 3 rounds of...
SECTION A (50) Read the case study below and answer the questions. SHORT RUN STABILIZATION AND...
SECTION A (50) Read the case study below and answer the questions. SHORT RUN STABILIZATION AND LONG RUN COMPETITIVENESS: THE LAVITAN CASE Growth of a young country Latvia – a small, young country on the east coast of the Baltic Sea – has recently earned the title of a ‘‘tiger’’. After gaining its independence from the Soviet Union in 1991, the country embarked upon a challenging road of transitioning from a planned to a market economy. The first decade proved...
4. Evaluating fiscal policy Aa Aa The graph below shows an economy's government expenditures (G) and tax revenues (T) at different levels of real GDP G AND T Billions of dollars) 280 T 2008 270 260 250 240 230 220 210 200 600 640 680 720 760 REAL 00P (Bitions of dollars) Hee Clear AL Suppose the economy's full-employment level of real GDP is $680 billion. In 2006, the economy was operating at its full-employment output level, so the standardized...
Course: Topic: BUSI2003 Macroeconomics Fiscal Policy (billions of CS) Government Tax Government Surplus or National Revenues Expenditure Deficit Debt 100 2007 2008 2009 2010 2011 2012 604 647 633 612 610 615 578 610 631 645 650 648 1. Why did the tax revenues decline from 2008 to 20117 2. If the economy experienced a severe recession from 2008, why didn't the Government expenditure decrease in those years? 3. How did the Government's budget balance evolve over time? 4. How...
Related to the Economics in Practice Federal government expenditures and receipts for the simple economy of the nation of Topanga are listed in the table below. The government of Topanga would like to reduce the debt-to-GDP ratio, and the Finance Minister of Topanga has proposed the following: "The best way to reduce the debt-to-GDP ratio is to increase GDP, because with a larger GDP, the ratio will have to get smaller. I therefore propose that government expenditures be increased by...
Answer five questions given the following data (all values are in billions of dollars): Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Nominal Consumption Private Government GDP Expenditures Investment Purchases Exports Imports (GDP) (C) (0) (G) (X) (M) $ 13,178 $ 9,207 $ 2,220 $ 2,508 $ 1,481 $ 2,238 $ 13,808 $ 9,710 $ 2,130 $ 2,675 $ 1,662 $ 2,370 $ 14,291 $ 10,035 $ 2,087 $ 2,878 $ 1,848 $ 2,557 $ 13,939...
Year 2000 GDP Deflator (Price Index, 2009 = 100) 81.9 83.8 85.0 2001 2002 2003 2004 2005 & 2007 Nominal GDP (in Billions of Dollars) 9,817 10.128 10.469 10,960 11,685 12,422 13,178 13,808 14,291 13,939 14,524 15,518 16,163 16,768 17,393 18,037 18,569 2008 2009 2010 2011 2012 2013 2014 2015 2016 100.0 101.2 103.3 105.2 106.7 108.8 110.0 111.4 Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2015 using 2007 prices. $0 billion b....
Multiple Choice: 1) Assume the MPC is 0.75 and lump sum taxes are collected by the government. What is the government tax multiplier? A)-1.33 B) - 25 C) - 75 D) -4 E) -3 , which the recessionary gap. 2) During a Recession, the MPC tends to a) Increase, increases b) Decrease, decreases c Decrease, increases d) Increase, decreases 3) Suppose that the MPC is.75 and the US Federal Government reduces taxes by 10 million dollars. After 3 rounds of...
Most questions answered within 3 hours.
-
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 33 minutes ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 1 hour ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 3 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 3 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 3 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 4 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 4 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 4 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 4 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 4 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 4 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 4 hours ago