In which years was the government's budget in deficit? Check all that apply.19291948196719862005In 1967, the national debtby The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars.RevenuesYear1929(Billions of dollars)Expenditures(Billions of dollars)GDP(Billions of dollars)3.93.1103.6194841.629.8269.21967148.8157.5832.61986769.2990.44,462.820052,153.92,472.212,421.9Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the orange points(square symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points.2520201515FEDERAL EXPENDITURES AND REVENUES (Percent of GDP)10105(?)Expenditures19291948196719862005YEARRevenues

A budget deficit occurs when the expenditure incurred by the government exceeds the revenue earned.…

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In which years was the government's budget in deficit? Check all that apply. 1929 1948 1967 1986 2005 In 1967, the national debt by

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

In which years was the government's budget in deficit? Check all that apply.
1929
1948
1967
1986
2005
In 1967, the national debt
by

The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars.
Revenues
Year
1929
(Billions of dollars)
Expenditures
(Billions of dollars)
GDP
(Billions of dollars)
3.9
3.1
103.6
1948
41.6
29.8
269.2
1967
148.8
157.5
832.6
1986
769.2
990.4
4,462.8
2005
2,153.9
2,472.2
12,421.9
Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the orange points
(square symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points.
25
20
20
15
15
FEDERAL EXPENDITURES AND REVENUES (Percent of GDP)
10
10
5
(?)
Expenditures
1929
1948
1967
1986
2005
YEAR
Revenues

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