ALL QUESTIONS GO WITH BOTH CHARTS 6. Focusing on the tax cut of 1964, the personal current tax receipts for 1968, four years after the tax cut is $ _______ billion. 7. Focusing on the tax cut of 1964, the personal current tax receipts for 1969, five years 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.
ALL QUESTIONS GO WITH BOTH CHARTS 6. Focusing on the tax cut of 1964, the personal current tax receipts for 1968, four years after the tax cut is $ _______ billion. 7. Focusing on the tax cut of 1964, the personal current tax receipts for 1969, five years 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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
ALL QUESTIONS GO WITH BOTH CHARTS
6. Focusing on the tax cut of 1964, the personal current tax receipts for 1968, four years after the tax cut is $ _______ billion.
7. Focusing on the tax cut of 1964, the personal current tax receipts for 1969, five years 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.
Transcribed Image Text:Line
Line
1
2 Current tax receipts
3
4
5
6
7
8
9
40
41
42
10 Contributions for government social insurance
11
From persons
12
From the rest of the world3
13 Income receipts on assets
14
Interest receipts4
15
Dividends
16
17
18
Rents and royalties5
19 Current transfer receipts
20
From business
21
From persons
22
From the rest of the world6
23 Current surplus of government enterprises7
24
Current expenditures
13 4 5
43
Current receipts
25 Consumption expenditures
26 Current transfer payments
27
28
29
30
31
32
33 Interest payments4
34
35
36 Subsidies7
37
38 Social insurance funds
39 Othe
44
Personal current taxes 1
45
46
47
48
49
Taxes on production and imports2
Excise taxes
Customs duties
Other
Taxes on corporate income
Taxes from the rest of the world
Federal Reserve banks
Other
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
To persons and business4
To the rest of the world
Net federal government saving
Addenda:
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 (-)
1976
322.6
212.4
141.6
21.4
16.8
4.6
48.7
0.7
99.8
99.1
0.6
12.1
5.2
5.9
5.9
1.1
1.2
1.1
0.1
-2.9
403.5
140.0
199.6
146.0
143.5
2.5
53.6
49.1
4.5
58.9
54.6
4.3
4.9
-80.9
-16.0
-64.9
328.2
322.6
5.6
414.8
403.5
44.8
10.6
-2.4
41.7
-86.6
1977
363.9
241.6
162.5
22.7
17.3
5.4
55.7
0.7
111.1
110.3
0.8
13.0
5.8
5.9
5.9
1.3
1.6
1.4
0.2
---
-3.4
437.3
151.1
214.0
155.0
152.4
2.6
59.0
54.8
4.2
65.3
60.0
5.2
6.9
-73.4
-14.1
-59.4
371.0
363.9
7.2
451.0
437.3
49.2
11.2
-1.4
45.3
-80.0
1978
423.8
279.8
189.2
25.3
18.2
7.1
64.4
1.0
128.7
127.9
0.9
16.0
7.4
7.0
7.0
1.5
2.2
2.0
0.2
---
-2.9
485.9
164.2
233.9
165.4
162.7
2.7
68.5
63.5
5.0
79.1
70.9
8.2
8.7
-62.0
-4.7
-57.
429.0
423.8
5.2
502.3
485.9
54.7
12.0
-0.6
49.7
-73.2
3 of 4
1979
487.0
316.9
224.9
25.7
18.2
7.5
65.1
1.1
149.8
148.9
0.9
20.5
9.2
9.3
9.3
---
2.1
2.5
2.4
0.2
---
-2.7
534.4
178.8
255.9
186.1
183.0
3.0
69.8
64.0
5.8
91.5
80.9
10.6
8.2
-47.4
-0.1
-47.3
492.5
487.0
5.5
553.2
534.4
61.7
14.5
-2.8
54.6
-60.7
1980
533.7
344.5
250.6
33.7
26.5
7.2
58.6
1.6
163.6
162.6
1.0
26.1
11.3
11.7
11.7
3.0
3.1
2.9
0.2
-3.6
622.5
204.6
300.9
223.8
220.3
3.5
77.0
69.7
7.3
107.5
95.7
11.9
9.4
-88.8
-15.8
-73.0
540.2
533.7
6.5
645.0
622.5
70.2
16.7
-4.1
60.4
-104.8
1981
621.1
394.3
291.2
49.9
41.3
8.6
51.7
1.5
193.0
191.8
1.2
33.3
14.8
14.0
14.0
4.4
3.1
2.9
0.3
-2.6
709.1
233.6
331.1
255.0
250.7
4.3
76.1
69.4
6.7
133.4
117.2
16.3
11.1
-88.1
-14.3
-73.8
628.0
621.1
6.9
732.2
709.1
80.4
15.7
-5.5
67.5
-104.3
1982
618.7
371.8
295.6
41.0
32.3
8.6
33.8
1.4
206.0
204.9
1.2
38.6
18.3
15.2
15.2
5.1
4.4
3.7
0.7
-2.1
786.0
258.4
360.4
286.0
281.9
4.1
74.4
66.3
8.1
152.7
134.7
18.0
14.6
-167.4
-34.4
-132.9
626.2
618.7
7.5
811.6
786.0
90.0
14.7
-3.7
75.4
-185.4
Transcribed Image Text:Last Revised on: September 28, 2023 - Next Release Date October 26, 2023
Line
Line
1
2 Current tax receipts
3
4
5
6
7
8
9
10
11
12
Current receipts
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
13 Income receipts on assets
14
Interest receipts4
15
Dividends
16
17
18
Rents and royalties5
19 Current transfer receipts
20
From business
21
From persons
22
From the rest of the world6
23 Current surplus of government enterprises7
24
Current expenditures
Contributions for government social insurance
From persons
From the rest of the world3
40
41
42
43
44
25 Consumption expenditures
26 Current transfer payments
45
46
47
48
49
Federal Reserve banks
Other
27 Government social benefits
28
29
30
31
32
33 Interest payments4
34
To persons
To the rest of the world8
To persons and business4
35 To the rest of the world
36 Subsidies7
37
38 Social insurance funds
39 Other
Other current transfer payments
Grants-in-aid to state and local governments
To the rest of the world6,8
Net federal government saving
Addenda:
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 (-)
1964
111.3
86.2
46.0
15.4
14.1
1.3
---
24.6
0.2
21.8
21.7
0.1
3.5
1.7
1.6
1.6
---
0.2
0.6
0.6
0.1
-0.8
118.2
63.1
34.9
25.5
25.2
0.3
9.4
6.0
3.4
17.5
17.0
0.5
2.7
-6.9
1.2
-8.1
113.9
111.3
2.6
130.8
118.2
27.1
4.1
0.6
19.2
-16.9
1965
120.4
94.3
51.1
15.4
13.8
1.6
27.6
0.2
22.7
22.7
0.1
3.3
1.8
1.3
1.3
---
0.2
0.9
0.9
0.1
-0.9
125.9
66.5
37.9
27.7
27.3
0.5
10.1
6.6
3.6
18.6
18.1
0.5
3.0
-5.5
0.4
-5.9
123.2
120.4
2.8
137.1
125.9
26.7
4.0
0.5
20.0
-13.9
1966
137.4
103.1
58.6
14.4
12.6
1.9
29.8
0.2
30.6
30.5
0.1
3.9
2.0
1.6
1.6
---
0.2
1.0
1.0
0.0
-1.2
144.4
76.5
43.7
30.3
29.9
0.5
13.4
9.4
4.0
20.3
19.7
0.5
3.9
-7.0
6.0
-13.0
140.4
137.4
3.0
158.4
144.4
1 of 4
30.1
4.4
0.6
21.0
-18.0
1967
146.3
107.9
64.4
15.2
13.3
1.9
---
28.1
0.2
34.1
34.0
0.1
4.5
2.3
1.9
1.9
---
0.3
1.0
0.9
0.1
-1.3
165.8
88.1
52.0
37.1
36.5
0.6
14.9
10.9
4.0
21.9
21.3
0.6
3.8
-19.5
4.1
-23.6
149.3
146.3
3.1
179.3
165.8
31.9
4.3
-0.2
22.5
-30.0
1968
170.6
127.2
76.4
16.9
14.6
2.3
33.6
0.3
37.9
37.8
0.1
5.5
2.7
2.5
2.5
---
0.3
1.0
0.9
0.0
-1.0
184.3
96.8
58.8
42.4
41.9
0.6
16.4
11.8
4.5
24.6
23.9
0.7
4.1
-13.8
3.2
-16.9
173.7
170.6
3.1
196.4
184.3
31.1
6.0
-0.9
24.2
-22.7
1969
191.8
143.0
91.7
17.8
15.4
2.4
---
33.0
0.4
43.3
43.1
0.2
5.8
2.5
3.0
3.0
---
0.3
1.0
0.9
0.1
---
-1.3
197.0
100.5
64.5
46.3
45.8
0.6
18.2
13.7
4.5
27.5
26.7
0.8
4.5
-5.1
5.7
-10.8
195.4
191.8
3.6
207.9
197.0
30.7
5.9
0.1
25.8
-12.5
1970
185.1
134.4
88.9
18.1
15.6
2.5
---
27.1
0.4
45.5
45.3
0.2
6.7
2.8
3.5
3.5
---
0.4
1.0
0.9
0.1
-2.5
219.9
102.3
79.5
56.4
55.6
0.7
23.2
18.3
4.8
33.3
32.4
0.9
4.8
-34.8
1.0
-35.8
188.8
185.1
3.7
227.8
219.9
30.5
5.3
-0.3
27.6
-39.0
1971
190.7
135.3
85.8
19.0
15.9
3.1
---
30.1
0.4
50.3
50.0
0.3
7.0
3.1
3.4
3.4
---
0.5
0.9
0.9
0.1
-2.8
241.6
106.7
95.0
66.9
66.1
0.8
28.2
22.1
6.0
35.2
33.5
1.8
4.6
-50.9
-3.0
-47.9
195.3
190.7
4.6
245.8
241.6
27.8
5.9
-0.4
29.1
-50.6
1972
219.0
155.0
102.8
18.5
15.5
3.0
33.4
0.4
58.3
57.9
0.4
7.0
3.3
3.2
3.2
0.5
1.1
1.0
0.1
-2.4
268.0
112.3
111.5
73.8
72.9
1.0
37.7
30.5
7.2
37.6
35.1
2.6
6.6
-49.0
-0.6
-48.4
224.4
219.0
5.4
272.5
268.0
29.3
6.1
-0.7
30.2
-48.1
1973
249.2
168.7
109.6
19.8
16.5
3.3
---
38.9
0.4
74.5
74.0
0.5
8.4
3.4
4.3
4.3
---
0.7
1.0
0.9
0.1
-3.4
287.6
114.5
124.6
85.7
84.5
1.2
38.9
33.5
5.4
43.3
39.6
3.7
5.1
-38.3
5.9
-44.2
254.3
249.2
5.1
289.6
287.6
31.7
6.0
-3.2
32.4
-35.3
1974
278.5
186.5
126.5
20.1
16.4
3.7
---
39.6
0.4
84.1
83.5
0.6
10.1
3.6
5.6
5.6
---
0.9
1.1
1.0
0.1
-3.2
319.8
123.2
145.5
104.6
103.3
1.3
40.9
34.9
6.0
48.0
43.9
4.0
3.2
-41.3
3.2
-44.5
283.3
278.5
4.8
322.4
319.8
35.7
7.9
-5.7
35.4
-39.1
1975
276.8
181.5
120.7
22.1
16.2
5.9
38.2
0.5
88.1
87.5
0.6
10.6
4.3
5.4
5.4
1.0
1.1
1.0
0.1
-4.4
374.8
133.9
184.1
134.3
132.3
2.0
49.8
43.6
6.1
52.5
48.1
4.3
4.3
-97.9
-16.3
-81.6
281.7
276.8
4.9
385.1
374.8
39.9
9.7
-0.4
38.7
-103.4
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VIEWStep 5: Calculate the personal current tax receipts for 1982.
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