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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 1998 1,722 1,653 8,747 2000 2,025 1,789 9,817 2002 1,853 2,011 10,470 2004 1,880 2,293 11,686 2006 2,407 2,655 13,178 On the following graph, plot the data for revenues and expenditures as a percentage of GDP, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) 25 20 15 10 5 0 1996 1998 2000 2002 2004 2006 YEAR (?) Expenditures Revenues Do graph pls You can plot expenditures 5 times and 4 times for revenues In which years was the government's budget in deficit? Check all that apply. 000 00 2004 1998 2000 2006 2002 In 2002, the national debt Increased or decreased by $3,864 billion, $158 billion, or $3,814 billion

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 1998 1,722 1,653 8,747 2000 2,025 1,789 9,817 2002 1,853 2,011 10,470 2004 1,880 2,293 11,686 2006 2,407 2,655 13,178 On the following graph, plot the data for revenues and expenditures as a percentage of GDP, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) 25 20 15 10 5 0 1996 1998 2000 2002 2004 2006 YEAR (?) Expenditures Revenues Do graph pls You can plot expenditures 5 times and 4 times for revenues In which years was the government's budget in deficit? Check all that apply. 000 00 2004 1998 2000 2006 2002 In 2002, the national debt Increased or decreased by $3,864 billion, $158 billion, or $3,814 billion

ECON MACRO
ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter12: Federal Budgets And Public Policy
Section: Chapter Questions
Problem 3.8P
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TOPUC: The federal budget
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 1998 1,722 1,653 8,747 2000 2,025 1,789 9,817 2002 1,853 2,011 10,470 2004 1,880 2,293 11,686 2006 2,407 2,655 13,178 On the following graph, plot the data for revenues and expenditures as a percentage of GDP, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) 25 20 15 10 5 0 1996 1998 2000 2002 2004 2006 YEAR (?) Expenditures Revenues Do graph pls You can plot expenditures 5 times and 4 times for revenues In which years was the government's budget in deficit? Check all that apply. 000 00 2004 1998 2000 2006 2002 In 2002, the national debt Increased or decreased by $3,864 billion, $158 billion, or $3,814 billion
Transcribed Image Text: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 1998 1,722 1,653 8,747 2000 2,025 1,789 9,817 2002 1,853 2,011 10,470 2004 1,880 2,293 11,686 2006 2,407 2,655 13,178 On the following graph, plot the data for revenues and expenditures as a percentage of GDP, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) 25 20 15 10 5 0 1996 1998 2000 2002 2004 2006 YEAR (?) Expenditures Revenues Do graph pls You can plot expenditures 5 times and 4 times for revenues In which years was the government's budget in deficit? Check all that apply. 000 00 2004 1998 2000 2006 2002 In 2002, the national debt Increased or decreased by $3,864 billion, $158 billion, or $3,814 billion
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