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
Chapter1: Making Economics Decisions
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TOPUC: The federal budget
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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