Federal Government receipts and expenditures and nominal GDP, billions of dollars. 1967 1978 1984 1999 2009 2018 Tax receipts 108 280 410 1175 1124 1956 Other receipts 38 144 302 732 1116 1542 Government purchases and subsidies 92 173 317 501 993 1121 Government transfer payments 52 234 397 986 2141 2846 Interest payments 22 79 194 352 355 541 Net government investment 9 5 25 -3 49 4 Nominal GDP 860 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures. I need your help in the following question: -Refer to Table 1. Of the years included, when were tax receipts relative to GDP the greatest? and when were interest payments relative to GDP the greatest?
Table 1
Federal Government receipts and expenditures and nominal GDP, billions of dollars.
|
|
1967 |
1978 |
1984 |
1999 |
2009 |
2018 |
|
Tax receipts |
108 |
280 |
410 |
1175 |
1124 |
1956 |
|
Other receipts |
38 |
144 |
302 |
732 |
1116 |
1542 |
|
Government purchases and subsidies |
92 |
173 |
317 |
501 |
993 |
1121 |
|
Government transfer payments |
52 |
234 |
397 |
986 |
2141 |
2846 |
|
Interest payments |
22 |
79 |
194 |
352 |
355 |
541 |
|
Net government investment |
9 |
5 |
25 |
-3 |
49 |
4 |
|
Nominal GDP |
860 |
2,352 |
4,339 |
9,631 |
14,449 |
20,580 |
Source: Bureau of Economic Analysis
Assume the table above represents all federal government revenues and expenditures.
I need your help in the following question:
-Refer to Table 1. Of the years included, when were tax receipts relative to GDP the greatest? and when were interest payments relative to GDP the greatest?
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