Please answer the following questions: Using the "The Budget and Economic Outlook: 2022 to 2032" publication prepared by theCongressional Budget Office, answer the following questions:1. Refer to Table 1-1. CBO's Baseline Budget Projections, by Category (pg. 7).It is projected that the U.S. government will be a in a continuous budgetuntil 2032.2. Given your response in Question 1, this must mean that on average, the U.S.government is projected to:A. earn more revenues than its outlays.B. spend more than collect taxes.C. collect more taxes than it spends.D. earn more revenues than its outlays.E. maintain a balanced budget.(balance, surplus, or deficit)3. Based on your response to Question 1, this projection will likelydebt.A. increaseB. decreaseC. not changeD. exponentially decreaseE. cannot be determinedRefer to Table 1-3. CBO's Baseline Projections of Federal Debt (pg. 14) for Actual 2021,the public4. what was the Debt Held by the Public (at the End of the Year) as a percentage of the GrossDomestic Product?6. what is the total national debt?5. what is the Debt Held by the Public (at the End of the Year) in Billions of Dollars at the end of2021?7. what is the amount difference between Debt Held by the Public (at the End of the Year) andthe national debt?8. In reference to your response for Question 7, what is this type of debt called:Page | 1 Table 1-3.CBO's Baseline Projections of Federal DebtBillons of DollarsDebt Held by the Public at theBeginning of the YearChanges in Debt Held by the PublicDeficitOther means of financingTotalDebt Held by the Public at theEnd of the YearIn billions of dollarsAs a percentage of GDPMemorandum:Federal Financial AssetsDebt Net of Financial AssetsIn billions of dollarsAs a percentage of GDPFederal Reserve Holdings ofDebt Held by the PublicDebt Net of Financial Assets andFederal Reserve HoldingsIn billions of dollarsAs a percentage of GDPGross Federal DebtDebt Subject to LimitAverage Interest Rate on Debt Heldby the Public (Percent)Back to Table of ContentsActual202121,0172,775 1,036853-1,50822,28499.61,267 1,8891,64720,63792.35,43115,20668.028,386202228,4011.822,284 24,17320232,500 2,5365,53624,173 25,193 26,21797.996.096.12024984 1,05636-321,020 1,0241.925,193 26,21721,673 22,657 23,71387.8 86.386.92,5044,636 3,79616,136 18,021 19,91765.3 68.773.02.020252.21,3441,318 1,36426027,56197.52,53021,71676.830,621 31,761 32,887 34,24530,637 31,777 32,90325,03188.5202634,26127,5612.41,3643,315 3,5402,530202728,9251,409-828,925 30,326 32,10598.8 100.0 102.02.520281,401 1,77930,32626,395 27,804 29,52990.2 91.7 93.82,522 2,57635,597 36,83535,614 36,8521,725 1,6515443,930 4,35122,855 23,874 25,17978.1 78.780.02.738,377202932,1052.81,65533,760103.22,58031,18095.34,772203033,760 35,8082.91,912 2,0671367420312,716 2,7902,048 2,141 2,2645,17635,808 37,949 40,213105.3 107.5 109.639,849 41,59938,394 39,866 41,61733,092 35,160 37,41397.399.6102.03.0203237,94926,408 27,916 29,578 31,42780.7 82.1 83.785.72,2531043,44543,4645,581 5,9863.12,80045,35045,3703.1

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Refer to Table 1-3. CBO's Baseline Projections of Federal Debt (pg. 14) for Actual 2021, 4. what was the Debt Held by the Public (at the End of the Year) as a percentage of the Gross Domestic Product? 5. what is the Debt Held by the Public (at the End of the Year) in Billions of Dollars at the end of 2021? 6. what is the total national debt?

Refer to Table 1-3. CBO's Baseline Projections of Federal Debt (pg. 14) for Actual 2021, 4. what was the Debt Held by the Public (at the End of the Year) as a percentage of the Gross Domestic Product? 5. what is the Debt Held by the Public (at the End of the Year) in Billions of Dollars at the end of 2021? 6. what is the total national debt?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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