9. Focusing on the tax cut of 1982, the personal current tax receipts for 1981, the year before the tax cut is $ _______ billion. 10. Focusing on the tax cut of 1982, the personal current tax receipts for 1982, the year of the tax cut is $ _______ billion. 11. Focusing on the tax cut of 1982, the personal current tax receipts for 1983, the year after the tax cut is $ _______ billion.
9. Focusing on the tax cut of 1982, the personal current tax receipts for 1981, the year before the tax cut is $ _______ billion. 10. Focusing on the tax cut of 1982, the personal current tax receipts for 1982, the year of the tax cut is $ _______ billion. 11. Focusing on the tax cut of 1982, the personal current tax receipts for 1983, the year after the tax cut is $ _______ billion.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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9. Focusing on the tax cut of 1982, the personal current tax receipts for 1981, the year before the tax cut is $ _______ billion.
10. Focusing on the tax cut of 1982, the personal current tax receipts for 1982, the year of the tax cut is $ _______ billion.
11. Focusing on the tax cut of 1982, the personal current tax receipts for 1983, the year after the tax cut is $ _______ billion.
12. Focusing on the tax cut of 1982, the personal current tax receipts for 1984, two years after the tax cut is $ _______ billion.
13. Focusing on the tax cut of 1982, the personal current tax receipts for 1985, three years after the tax cut is $ _______ billion.
14. Focusing on the tax cut of 1982, the personal current tax receipts for 1986, four years after the tax cut is $ _______ billion.
Transcribed Image Text:### U.S. Federal Government Financial Data: 1982–1987
#### Table Overview
This table provides detailed data on the U.S. federal government's financial activities from 1982 to 1987. It includes various categories such as receipts, expenditures, and net lending/borrowing.
#### Key Sections
1. **Current Receipts:**
- **1982 to 1987 growth:**
- Started at 618.7 in 1982 and increased to 899.5 by 1987.
- **Taxes:**
- **Current tax receipts** grow from 371.8 in 1982 to 526.4 in 1987.
- **Personal current taxes** range from 295.6 (1982) to 393.1 (1987).
- **Corporate Income Taxes:**
- Showed a steady increase from 33.8 in 1982 to 55.8 in 1987.
- **Contributions for government social insurance** rise from 206.0 to 317.4.
2. **Current Expenditures:**
- **1982 to 1987 rise:**
- Began at 786.0 and went up to 1,065.2.
- **Consumption Expenditures:**
- Increased from 258.4 to 353.0.
- **Government Social Benefits:**
- Rose from 286.0 to 361.5.
3. **Net Federal Government Saving:**
- Exhibited deficits throughout the period, beginning at -167.4 in 1982 and at -165.7 in 1987.
4. **Total Receipts, Expenditures, and Net Lending/Borrowing:**
- **Total Receipts:**
- Followed an upward trend from 626.2 in 1982 to 906.7 in 1987.
- **Total Expenditures:**
- Showed growth, starting at 811.6 in 1982 and reaching 1,126.2 by 1987.
- **Net Lending/Borrowing:**
- Consistently negative, from -185.4 in 1982 to -219.5 in 1987.
This table provides a comprehensive look at the federal government's fiscal performance over a six-year period, illustrating trends in revenue collection,
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