Homework Answers
ANSWER:
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1) The correct answer is 2002 , 2003 and 2004 as in these years revenue is less then the outlays.
2) The national debt was (2011 - 1853 = 158 )
increased and $158 billion (national debt increased as revenues was less then the outlay).
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2. Budget balances and the national debt The following table lists federal outlays, revenues, and GDP...
1. The federal budget The following table lists federal expenditures, revenues, and GDP for the U.S....
1. The federal budget The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars Year Revenues Expenditures GDP 2000 2001 2002 2003 2004 2,025 1,991 1,853 1,783 1,880 1,789 1,863 2,011 2,160 2,293 9,817 10,128 10,470 10,961 11,686 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures...
10. Budget balances and the national debt The following table lists federal expenditures, revenues, and GDP...
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...
Instructions: Enter your responses rounded to the nearest billion. a. Calculate real GDP for 2016 using...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
National Debt: The size of the total debt by the United States Federal government continues to...
National Debt: The size of the total debt by the United States Federal government continues to grow in fact according to the department of the treasury the debt per person living in the United States is approximately $53,000. The following data represents the US debt for the years 2001 through 2013 since the debt D depends on the year why and each and put corresponding to be exactly one output the debt is a function of the year so D(Y)...
1. The federal budget The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars Year Revenues Expenditures GDP 2000 2001 2002 2003 2004 2,025 1,991 1,853 1,783 1,880 1,789 1,863 2,011 2,160 2,293 9,817 10,128 10,470 10,961 11,686 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures...
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...
Instructions: Enter your
responses rounded to the nearest billion.
a. Calculate real GDP for 2016 using 2000 prices.
$ billion
b. By how much did real GDP increase between 2000 and 2016?
$ billion
c. By how much did nominal GDP increase between 2000 and
2016?
$ billion
Refer to the data below (all values are in billions): Year Nominal GDP GDP Deflator (in Billions of Dollars) (Price Index 2009 100) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009...
2002 85.0 92.0 Refer to the data below (all values are in billions): Nominal Year GDP Deflator GDP (in Billions (Price Index, of Dollars) 2009 = 100) 2000 9,817 81.9 2001 10,128 83.8 10,469 2003 10,960 86.7 2004 11,685 89.1 2005 12,422 2006 13,178 94.8 2007 13,808 97.3 2008 14,291 99.2 2009 13,939 100.0 2010 14,524 101.2 15,518 103.3 2012 16,163 105.2 2013 16,768 106.7 2014 17,393 108.8 2015 18,037 110.0 2016 18,569 111.4 2011 2010 2011 2012 2013 2014...
National Debt: The size of the total debt by the United States Federal government continues to grow in fact according to the department of the treasury the debt per person living in the United States is approximately $53,000. The following data represents the US debt for the years 2001 through 2013 since the debt D depends on the year why and each and put corresponding to be exactly one output the debt is a function of the year so D(Y)...
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