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3. Focusing on the tax cut of 1964, the personal current tax receipts for 1965, the year after the tax cut is $ _______ billion. 4. Focusing on the tax cut of 1964, the personal current tax receipts for 1966, two years after the tax cut is $ _______ billion. 5. Focusing on the tax cut of 1964, the personal current tax receipts for 1967, three years after the tax cut is $ _______ billion.

3. Focusing on the tax cut of 1964, the personal current tax receipts for 1965, the year after the tax cut is $ _______ billion. 4. Focusing on the tax cut of 1964, the personal current tax receipts for 1966, two years after the tax cut is $ _______ billion. 5. Focusing on the tax cut of 1964, the personal current tax receipts for 1967, three years after the tax cut is $ _______ billion.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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3. Focusing on the tax cut of 1964, the personal current tax receipts for 1965, the year after the tax cut is $ _______ billion.

4. Focusing on the tax cut of 1964, the personal current tax receipts for 1966, two years after the tax cut is $ _______ billion.

5. Focusing on the tax cut of 1964, the personal current tax receipts for 1967, three years after the tax cut is $ _______ billion.

### Financial Data Overview: 1964-1967 **Current Receipts** - **Total Current Receipts:** Increasing from 166.1 in 1964 to 217.0 in 1967. - **Current Tax Receipts:** Ascending from 135.9 in 1964 to 171.9 in 1967. - **Personal Current Taxes:** Rise from 52.1 in 1964 to 73.0 in 1967. - **Taxes on Production and Imports:** Up from 57.3 in 1964 to 67.9 in 1967. - **Taxes on Corporate Income:** Growth from 26.4 in 1964 to 30.0 in 1967. - **Taxes from the Rest of the World:** Consistent at 0.2 each year. - **Contributions for Government Social Insurance:** Increasing trend from 22.5 in 1964 to 35.0 in 1967. - **Income Receipts on Assets:** Stable growth from 5.4 in 1964 to 7.5 in 1967. - **Interest and Miscellaneous Receipts:** From 3.9 in 1964 to 5.6 in 1967. - **Rents and Royalties:** Constantly around 0.7-0.8. - **Dividends:** Upward trend from 1.6 in 1964 to 1.9 in 1967. - **Current Transfer Receipts:** Growth from 1.4 in 1964 to 2.3 in 1967. - **Current Surplus of Government Enterprises:** Minimal changes, peaking at 0.3 in 1967. **Current Expenditures** - **Total Current Expenditures:** From 169.1 in 1964 to 232.6 in 1967. - **Consumption Expenditures:** Going from 108.4 in 1964 to 149.3 in 1967. - **Current Transfer Payments:** Rising from 35.1 in 1964 to 50.3 in 1967. - **Government Social Benefits:** From 31.7 in 1964 to 46.3 in 1967. - **To Persons:** Growth from 31.3 in 1964 to 45.8 in
Transcribed Image Text:### Financial Data Overview: 1964-1967 **Current Receipts** - **Total Current Receipts:** Increasing from 166.1 in 1964 to 217.0 in 1967. - **Current Tax Receipts:** Ascending from 135.9 in 1964 to 171.9 in 1967. - **Personal Current Taxes:** Rise from 52.1 in 1964 to 73.0 in 1967. - **Taxes on Production and Imports:** Up from 57.3 in 1964 to 67.9 in 1967. - **Taxes on Corporate Income:** Growth from 26.4 in 1964 to 30.0 in 1967. - **Taxes from the Rest of the World:** Consistent at 0.2 each year. - **Contributions for Government Social Insurance:** Increasing trend from 22.5 in 1964 to 35.0 in 1967. - **Income Receipts on Assets:** Stable growth from 5.4 in 1964 to 7.5 in 1967. - **Interest and Miscellaneous Receipts:** From 3.9 in 1964 to 5.6 in 1967. - **Rents and Royalties:** Constantly around 0.7-0.8. - **Dividends:** Upward trend from 1.6 in 1964 to 1.9 in 1967. - **Current Transfer Receipts:** Growth from 1.4 in 1964 to 2.3 in 1967. - **Current Surplus of Government Enterprises:** Minimal changes, peaking at 0.3 in 1967. **Current Expenditures** - **Total Current Expenditures:** From 169.1 in 1964 to 232.6 in 1967. - **Consumption Expenditures:** Going from 108.4 in 1964 to 149.3 in 1967. - **Current Transfer Payments:** Rising from 35.1 in 1964 to 50.3 in 1967. - **Government Social Benefits:** From 31.7 in 1964 to 46.3 in 1967. - **To Persons:** Growth from 31.3 in 1964 to 45.8 in
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