24. The change in the Taxes on corporate income, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 27. The change in the Contributions for government social insurance FROM PERSONS, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 30. The change in the Current expenditures, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 31. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2019 is: $______ billions. 32. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2017 is: $______ billions
24. The change in the Taxes on corporate income, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 27. The change in the Contributions for government social insurance FROM PERSONS, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 30. The change in the Current expenditures, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 31. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2019 is: $______ billions. 32. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2017 is: $______ billions
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
24. The change in the Taxes on corporate income, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions.
27. The change in the Contributions for government social insurance FROM PERSONS, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions.
30. The change in the Current expenditures, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions.
31. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2019 is: $______ billions.
32. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2017 is: $______ billions.
Transcribed Image Text:40
41
42
43
44
45
46
47
48
49
Total receipts
Current receipts
Capital transfer receipts
Total expenditures
Current expenditures
Gross government investment
Capital transfer payments
Net purchases of nonproduced assets
Less: Consumption of fixed capital
Net lending or net borrowing (-)
3,510.3 3,497.0 3,542.0
3,488.2 3,474.1 3,518.8
22.1
22.8
23.2
4,279.4 4,288.8 4,370.6
4,196.3 4,200.5 4,258.3
272.9
278.4
279.6
85.5
116.5
84.3
-0.6
-0.6
-7.4
273.4
276.5
-769.2
-828.6
275.0
-791.8
4,516.9 3,536.8 3,578.2 3,660.6 3,662.6 3,683.7
3,559.7 3,512.8 3,554.6 3,638.1 3,642.1 3,665.7
957.2
24.0
23.7
22.5
20.5
18.0
4,413.9 4,488.2 4,556.7 4,618.6 4,703.1 4,804.5
4,323.2 4,399.0 4,459.3 4,518.6 4,599.7 4,693.9
288.6
291.5
295.7
301.8
310.9
322.8
81.0
79.0
86.3
85.1
82.9
85.9
-0.3
-0.4
-0.4
-2.0
281.0
284.3
286.5
288.3
-978.4 -958.0 -1,040.5
-0.4
278.5
103.0
-951.4
2 of 3
3,714.9 3,715.2
3,699.1 3,699.7
15.8
15.4
4,844.6 4,895.3
4,751.4 4,787.3
308.6
322.2
78.8
82.2
-6.4
-1.8
-1.7
291.7
292.4
294.7
-1,120.8 -1,129.7 -1,180.1
3,776.0
3,760.5
15.5
4,967.0
4,801.5
328.7
133.9
-0.4
296.7
-1,191.0
![Table 3.2. Federal Government Current Receipts and Expenditures
[Billions of dollars] Seasonally adjusted at annual rates
Last Revised on: August 30, 2023 - Next Release Date September 28, 2023
2017
Line
1
2 Current tax receipts
3
Current receipts
5
6
7
Personal current taxes 1
Taxes on production and imports2
Excise taxes
Customs duties
Other
Taxes on corporate income
Taxes from the rest of the world
Contributions for government social insurance
From persons
From the rest of the world3
9
10
11
12
13 Income receipts on assets
14 Interest receipts4
15
Dividends
16
17
18
Rents and royalties5
19 Current transfer receipts
20
From business
21
22
23 Current surplus of government enterprises7
24
Current expenditures
Federal Reserve banks
Other
From persons
From the rest of the world6
25 Consumption expenditures
26 Current transfer payments
27
28
29
Government social benefits
To persons
To the rest of the world8
Other current transfer payments
Grants-in-aid to state and local governments
To the rest of the world6,8
30
31
32
33 Interest payments4
34
35
36 Subsidies7
37
38 Social insurance funds
39 Other
To persons and business4
To the rest of the world
Net federal government saving
Addenda:
2017
Q2
3,474.1
1,982.0
2017
Q3
3,518.8
2,021.4
1,600.1 1,623.2
131.7
131.9
91.5
39.0
1.2
225.4
24.8
1,275.1
1,269.9
5.2
142.4
29.1
107.5
87.2
20.2
5.8
73.5
42.8
26.9
3.9
1.0
2017
Q4
3,559.7
2,052.8
1,649.1
134.9
94.2
39.5
1.2
243.0
25.9
1,309.1
1,303.9
5.2
122.9
31.4
84.6
72.8
11.8
6.8
73.8
43.8
27.0
2.9
4,196.3
1.1
4,200.5 4,258.3 4,323.2
973.4
978.7
981.0
997.0
2,703.4 2,693.1 2,734.5 2,773.1
2,095.4 2,109.1 2,127.4 2,146.5
2,074.0 2,087.4 2,105.5 2,124.2
21.4
21.7
21.9
22.2
608.0
584.0
607.1
626.7
562.8
542.4
562.9
573.6
45.2
41.6
44.3
53.1
460.7
471.2
481.5
493.4
351.7
358.2
362.2
368.5
109.0
113.0
119.2
124.9
58.8
57.5
61.4
59.6
-708.1
-726.4
-763.5
-327.8
-328.9
-329.2
-380.3
-397.5
-434.3
Q1
3,488.2
1,943.3
1,580.0
127.5
89.0
37.4
1.2
211.7
24.0
1,262.7
1,257.4
5.4
162.8
29.0
128.4
88.4
40.0
5.3
119.0
65.3
26.9
26.8
0.3
92.5
38.2
1.2
241.3
25.1
1,290.3
1,285.1
5.2
130.4
29.7
94.3
73.7
20.6
6.3
75.4
43.3
26.9
5.2
1.3
-739.5
-330.4
-409.1
1 of 3
2018
2018
Q1
Q2
3,512.8 3,554.6
1,979.0 2,016.0
1,597.1 1,607.0
150.5
156.1
107.6
108.0
41.7
46.9
1.2
1.2
206.5
227.2
24.9
25.7
1,328.9 1,338.6
1,323.6 1,333.2
5.3
5.3
120.0
114.7
35.9
2018
2018
Q3
Q4
3,638.1 3,642.1
2,043.2 2,079.7
1,625.5 1,630.1
163.3
185.4
109.3
112.2
52.7
71.9
1.3
1.3
229.0
237.2
25.5
26.9
1,355.1 1,363.4
1,349.7 1,358.0
5.4
5.4
130.7
127.9
37.5
38.1
2019
2019
2019
Q1
Q2
Q3
3,665.7 3,699.1 3,699.7
2,090.9 2,106.4 2,100.6
1,687.7 1,692.6 1,700.6
174.6
171.3
176.3
98.0
98.0
95.1
75.3
72.0
79.9
1.3
1.3
1.3
202.8
215.9
196.9
25.8
26.6
26.8
1,395.2 1,402.6 1,410.0
1,389.8 1,397.2 1,404.7
5.5
5.4
109.8
121.2
37.5
37.6
5.3
100.1
34.2
38.1
78.4
71.0
85.1
81.5
64.0
75.1
53.6
78.3
67.1
60.7
55.2
44.9
58.8
53.4
0.2
3.9
24.4
26.3
19.1
16.3
0.2
7.3
7.7
8.0
8.3
8.4
8.5
8.4
84.3
85.2
110.1
73.2
72.4
72.1
91.7
53.2
45.4
63.5
38.7
35.9
38.5
54.6
27.8
27.9
28.1
28.3
28.3
28.2
27.8
12.0
18.6
8.3
5.3
9.4
-3.1
3.3
6.3
0.6
0.1
-1.0
-2.1
4,399.0 4,459.3 4,518.6 4,599.7
1,014.6 1,030.5 1,049.4 1,057.4
2,818.7 2,839.0 2,858.8 2,890.7
2,193.2 2,206.1 2,224.3 2,247.3
2,170.8 2,183.4 2,201.3 2,224.3
22.4
23.0
643.4
-2.7
-2.8
4,693.9 4,751.4 4,787.3
1,070.2 1,096.5 1,103.5
2,971.4 3,004.9 3,019.3
2,326.9 2,343.1 2,358.0
2,303.4 2,319.4 2,333.8
23.5
23.7
24.3
644.5
661.8
661.2
22.7
23.0
625.5
632.9
634.5
581.2
579.5
581.7
587.8
592.4
615.5
610.4
44.3
53.3
52.8
55.6
46.3
50.8
52.1
583.8
507.6
532.2
553.1
573.7
591.6
584.0
376.9
396.9
413.2
430.0
435.5
442.2
437.3
130.8
135.3
139.9
143.7
146.7
58.1
57.7
57.3
-880.5
148.3
149.5
77.9
68.5
58.3
80.6
-957.6 -1,028.2 -1,052.3 -1,087.6
-372.4 -395.6 -407.1
-886.3
-904.8
-343.1
-350.3
-355.9
-416.4
-543.2
-554.5
-524.6
-585.3
-632.5
-645.1
-671.2
2019
Q4
3,760.5
2,156.4
1,726.4
176.9
91.9
83.8
1.3
226.2
26.8
1,429.0
1,423.7
5.2
108.6
37.7
62.6
62.4
0.2
8.3
68.4
35.5
27.0
5.9
-1.8
4,801.5
1,109.0
3,040.7
2,370.8
2,346.4
24.5
669.8
617.5
52.3
569.8
430.9
138.9
82.1
-1,041.0
-411.5
-629.5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8fd71a05-cce6-42ce-8872-636d0d92cbc9%2F9984f4e3-dd12-44da-aae3-d66a4d1de262%2Frnlpytb_processed.png&w=3840&q=75)
Transcribed Image Text:Table 3.2. Federal Government Current Receipts and Expenditures
[Billions of dollars] Seasonally adjusted at annual rates
Last Revised on: August 30, 2023 - Next Release Date September 28, 2023
2017
Line
1
2 Current tax receipts
3
Current receipts
5
6
7
Personal current taxes 1
Taxes on production and imports2
Excise taxes
Customs duties
Other
Taxes on corporate income
Taxes from the rest of the world
Contributions for government social insurance
From persons
From the rest of the world3
9
10
11
12
13 Income receipts on assets
14 Interest receipts4
15
Dividends
16
17
18
Rents and royalties5
19 Current transfer receipts
20
From business
21
22
23 Current surplus of government enterprises7
24
Current expenditures
Federal Reserve banks
Other
From persons
From the rest of the world6
25 Consumption expenditures
26 Current transfer payments
27
28
29
Government social benefits
To persons
To the rest of the world8
Other current transfer payments
Grants-in-aid to state and local governments
To the rest of the world6,8
30
31
32
33 Interest payments4
34
35
36 Subsidies7
37
38 Social insurance funds
39 Other
To persons and business4
To the rest of the world
Net federal government saving
Addenda:
2017
Q2
3,474.1
1,982.0
2017
Q3
3,518.8
2,021.4
1,600.1 1,623.2
131.7
131.9
91.5
39.0
1.2
225.4
24.8
1,275.1
1,269.9
5.2
142.4
29.1
107.5
87.2
20.2
5.8
73.5
42.8
26.9
3.9
1.0
2017
Q4
3,559.7
2,052.8
1,649.1
134.9
94.2
39.5
1.2
243.0
25.9
1,309.1
1,303.9
5.2
122.9
31.4
84.6
72.8
11.8
6.8
73.8
43.8
27.0
2.9
4,196.3
1.1
4,200.5 4,258.3 4,323.2
973.4
978.7
981.0
997.0
2,703.4 2,693.1 2,734.5 2,773.1
2,095.4 2,109.1 2,127.4 2,146.5
2,074.0 2,087.4 2,105.5 2,124.2
21.4
21.7
21.9
22.2
608.0
584.0
607.1
626.7
562.8
542.4
562.9
573.6
45.2
41.6
44.3
53.1
460.7
471.2
481.5
493.4
351.7
358.2
362.2
368.5
109.0
113.0
119.2
124.9
58.8
57.5
61.4
59.6
-708.1
-726.4
-763.5
-327.8
-328.9
-329.2
-380.3
-397.5
-434.3
Q1
3,488.2
1,943.3
1,580.0
127.5
89.0
37.4
1.2
211.7
24.0
1,262.7
1,257.4
5.4
162.8
29.0
128.4
88.4
40.0
5.3
119.0
65.3
26.9
26.8
0.3
92.5
38.2
1.2
241.3
25.1
1,290.3
1,285.1
5.2
130.4
29.7
94.3
73.7
20.6
6.3
75.4
43.3
26.9
5.2
1.3
-739.5
-330.4
-409.1
1 of 3
2018
2018
Q1
Q2
3,512.8 3,554.6
1,979.0 2,016.0
1,597.1 1,607.0
150.5
156.1
107.6
108.0
41.7
46.9
1.2
1.2
206.5
227.2
24.9
25.7
1,328.9 1,338.6
1,323.6 1,333.2
5.3
5.3
120.0
114.7
35.9
2018
2018
Q3
Q4
3,638.1 3,642.1
2,043.2 2,079.7
1,625.5 1,630.1
163.3
185.4
109.3
112.2
52.7
71.9
1.3
1.3
229.0
237.2
25.5
26.9
1,355.1 1,363.4
1,349.7 1,358.0
5.4
5.4
130.7
127.9
37.5
38.1
2019
2019
2019
Q1
Q2
Q3
3,665.7 3,699.1 3,699.7
2,090.9 2,106.4 2,100.6
1,687.7 1,692.6 1,700.6
174.6
171.3
176.3
98.0
98.0
95.1
75.3
72.0
79.9
1.3
1.3
1.3
202.8
215.9
196.9
25.8
26.6
26.8
1,395.2 1,402.6 1,410.0
1,389.8 1,397.2 1,404.7
5.5
5.4
109.8
121.2
37.5
37.6
5.3
100.1
34.2
38.1
78.4
71.0
85.1
81.5
64.0
75.1
53.6
78.3
67.1
60.7
55.2
44.9
58.8
53.4
0.2
3.9
24.4
26.3
19.1
16.3
0.2
7.3
7.7
8.0
8.3
8.4
8.5
8.4
84.3
85.2
110.1
73.2
72.4
72.1
91.7
53.2
45.4
63.5
38.7
35.9
38.5
54.6
27.8
27.9
28.1
28.3
28.3
28.2
27.8
12.0
18.6
8.3
5.3
9.4
-3.1
3.3
6.3
0.6
0.1
-1.0
-2.1
4,399.0 4,459.3 4,518.6 4,599.7
1,014.6 1,030.5 1,049.4 1,057.4
2,818.7 2,839.0 2,858.8 2,890.7
2,193.2 2,206.1 2,224.3 2,247.3
2,170.8 2,183.4 2,201.3 2,224.3
22.4
23.0
643.4
-2.7
-2.8
4,693.9 4,751.4 4,787.3
1,070.2 1,096.5 1,103.5
2,971.4 3,004.9 3,019.3
2,326.9 2,343.1 2,358.0
2,303.4 2,319.4 2,333.8
23.5
23.7
24.3
644.5
661.8
661.2
22.7
23.0
625.5
632.9
634.5
581.2
579.5
581.7
587.8
592.4
615.5
610.4
44.3
53.3
52.8
55.6
46.3
50.8
52.1
583.8
507.6
532.2
553.1
573.7
591.6
584.0
376.9
396.9
413.2
430.0
435.5
442.2
437.3
130.8
135.3
139.9
143.7
146.7
58.1
57.7
57.3
-880.5
148.3
149.5
77.9
68.5
58.3
80.6
-957.6 -1,028.2 -1,052.3 -1,087.6
-372.4 -395.6 -407.1
-886.3
-904.8
-343.1
-350.3
-355.9
-416.4
-543.2
-554.5
-524.6
-585.3
-632.5
-645.1
-671.2
2019
Q4
3,760.5
2,156.4
1,726.4
176.9
91.9
83.8
1.3
226.2
26.8
1,429.0
1,423.7
5.2
108.6
37.7
62.6
62.4
0.2
8.3
68.4
35.5
27.0
5.9
-1.8
4,801.5
1,109.0
3,040.7
2,370.8
2,346.4
24.5
669.8
617.5
52.3
569.8
430.9
138.9
82.1
-1,041.0
-411.5
-629.5
Expert Solution
Step 1: Define Corporate tax
This concept can be defined as a type of tax that is paid by the business or organization to the central authority on profit which is earned by that business or any corporate organization after a certain level of profit or income. This is calculated as a direct tax which means this tax is imposed directly on the income of the corporation.
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