Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit) Federal Budget Receipts (billions of dollars per (billions of dollars (billons of dollars per year, Federal Surplus or Deficit year) Federal Government Spending Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3.021 3.506 17,527 2015 3.250 3.692 18.238 2016 3.268 3.853 18,745 2017 3.316 3.982 19.543 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit) Federal Budget Receipts (billions of dollars per (billions of dollars (billons of dollars per year, Federal Surplus or Deficit year) Federal Government Spending Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3.021 3.506 17,527 2015 3.250 3.692 18.238 2016 3.268 3.853 18,745 2017 3.316 3.982 19.543 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. calculating the debt to GDP ratio
GDP Data (in $ billion) Table 7-1 Durable goods = $11,080.00 Services = $12,500.56 Business purchases of capital goods = $1,080.00 Fixed investment = $12,080.00 %3D Exports = $700.00 Imports = $820.46 %3D Nondurable goods = $1,000.46 Inventory investment = $301.25 Government transfer payments = $1,240.26 Purchases of new residential housing = $11,000.00 Government purchases = $7,890.56 Refer to Table 7-1. GDP is equal to O $44,762.30 O $44,132.31 O $44,732.37 O $43,732.89
The Equivalence of Expenditure and Income (in Billions of Dollars) Expenditure C: Consumer goods and services I: Investment in plants, equipment, and inventory G: Government goods and services X: Exports M: Imports GDP: Total value of output b. Gross private investment % % c. Total government purchases % d. Exports e. Imports % $14,561 Instructions: Enter your responses as a percentage rounded to one decimal place. Calculate the following as a percentage of GDP for 2019: a. Personal consumption expenditures % 3,744 3,754 2,504 (3,136) $21,427 Wages and salaries Corporate profits Proprietors' income Income Rents Interest Taxes on output and imports Depreciation Statistical discrepancy Total value of income $11,434 2,075 1,658 778 645 1,494 3,463 (120) $21,427
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The table gives the government outlays and tax revenues from 2015 through 2019 for two countries. Year Country A Government outlays (trillions of 2012 dollars) Country A Tax revenue (trillions of 2012 dollars) Country B Government outlays (trillions of 2012 dollars) Country B Tax revenue (trillions of 2012 dollars) 2015 0.75 0.80 1.05 1.10 2016 0.80 0.83 0.90 0.92 2017 0.87 0.86 0.87 0.88 2018 0.95 0.95 0.85 0.83 2019 1.06 1.02 0.70 0.75 In 2017 country A had a ________ and country B had a ________. A. budget deficit; budget deficit B. budget surplus; budget deficit C. budget surplus; budget surplus D. budget deficit; budget surplus E. balanced budget; budget deficit
The gross domestic product (GDP) of the United States is defined as the _________ (options: cost of producing, market value of, wholesale cost of) all _______________ (options: final and intermediate goods and services produced, final goods and services produced, final goods and services consumed) by _________________ (options: U.S. citizens, U.S.-owned companies, resources within the United States) in a given period of time, usually a year.
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The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2007, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (CC) $9,734.2 Gross Private Domestic Investment (II) $2,125.4 Exports (XX) $1,643 Imports (MM) $2,351 Net exports of goods and services (X−MX−M) Government Consumption Expenditures and Gross Investment (GG) $2,689.8 Gross domestic product (GDP) This method of calculating GDP, which involves summing the , is called the approach.
i neeed in Words (not handwritten)
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