5. Budget deficit and surplus Aa Aa 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 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the red points (cross symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) Expenditures 20 Revenues 15 10 1996 1998 2000 2002 2004 2006 2008 YEAR Help Clear All 25
5. Budget deficit and surplus Aa Aa 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 Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the red points (cross symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points. EXPENDITURES AND REVENUES (Percent of GDP) Expenditures 20 Revenues 15 10 1996 1998 2000 2002 2004 2006 2008 YEAR Help Clear All 25
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:5. Budget deficit and surplus
Aa Aa
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
Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest
percent. Use the red points (cross symbol) for expenditures and the green points (triangle symbol) for revenues. Line
segments will automatically connect the points.
EXPENDITURES AND REVENUES (Percent of GDP)
Expenditures
20
Revenues
15
10
1996
1998
2000
2002
2004
2006
2008
YEAR
Help
Clear All
25
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 3 images
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education