5. Allocation of government expendituresFederal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 2016.Interest11%FederalAll other12%Health30%O TrueO FalsePensions andIncome Security33%NationalDefense14%Highways6.0%State and LocalAll other31%Education33%Health andPublic Welfare(includes healthand welfare andsocial services,not disability) 30%(Source: Bureau of Economic Analysis, "Government Current Expenditures by Function," National Income and Product Accounts Tables,www.bea.gov.)True or False: You can validly conclude from these pie charts that local governments do not spend enough on highways.

Public consumption, public investment, and transfer payments made up of capital transfers and income…

S. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 201 Federal All other 12% Interest 11% Health 30% Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and

S. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 201 Federal All other 12% Interest 11% Health 30% Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price (dollars per ball) 25 20 15 10 5 0 4 8 12 16 Quantity (millions of balls per week) 64. If sellers of basket balls are taxed $6 a ball, the seller receives a price of $ balls a. $16 and 8 million balls b. $21 and 12 million balls c. $6 and 8 million balls d. $10 and 8 million balls e. None of the above 65. The government receives a revenue of $48 million a. True b. False 66. The economic burden of the tax is $ a. $3 on the seller and $3 on the buyer b. $5 on the seller and $1 on the buyer c. $1 on the seller and $5 on the buyer d. $4 on the seller and $2 on the buyer e. None of the above on the seller and $ and sells on the buyer
The following diagram shows changes in fiscal policy by the South African government from the beginning of 2008, until the end of 2014. Study it carefully and answer the question which follows. SOUTH AFRICA GOVERNMENT SPENDING 620000 **** 600000 580000 F N E EH A A EE E E 560000 540000 520000 500000 480000 460000 1/1/2008 1/1/2010 1/1/2012
Multiple choice 1. Taxation is NOT: a. A contribution for the support of a government required of persons, groups, or businesses within the domain of that government b. A means by which governments finance their expenditure by imposing charges on citizens and corporate entities c. An act by which the sovereign, through its lawmaking body, raises income to defray the necessary expenses d. The process by which the sovereign through its law-making body, imposes burdens upon subjects or objects within its jurisdiction for the purpose of raising revenues to carry out the legitimate objects of the government
Question 18/28 > NEXT A BOOKMARK 18 According to the pie chart, which of the following provides the most revenue for the federal government? Federal Tax Revenue 2015: $3.18 trillion Corporate Inco Taxes Miscellaneous Individual Income Taxes Excise Taxes $1.48 trillion 47% Customs Duties Payroll Taxes $1.07 trillion 34% nationalpriorities.org PRIORITIES A Individual income taxes B Corporate taxes C Payroll taxes D Excise taxes DELL -> @ # $ 7 8. 1 4 W e y < O 5
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Which of these tax systems does not conform to the idea of vertical equity? a. GST. b. A flat tax where every dollar of income is taxed at 25 percent. c. A poll tax (e.g. where every taxpayer pays $10,000 in tax). d. A progressive tax system. Which one of the following defines the unemployment rate? a. (number on unemployment benefit) / (labour force). b. (number of registered unemployed) / (working age population). c.(number of unemployed) / (working age population). d. D.(number of unemployed) / (labour force).
Define the following
Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers to two decimals. V Taxable Income $0-$9,700 $9,701-$39,475 $39,476-$84,200 $84,201-160,725 $160,726-$204,100 $204,101-$510,300 Over $510,300 1st attempt Tax rate 10% 222335 12 24 37 See Hin
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The federal government operating expenditure in 2020 is dominantly for a. Debt service charges. b. Emoluments. c. Subsidies and social assistance. d. Supplies and services.
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CIENCES QUESTION 1 Study the bar chart regarding the National Budget's tax revenue and answer the questions that follow: WHERE WILL THE MONEY COME FROM IN 2021/22 AND HOW WILL IT BE SPEND GOVERNMENT SOURCES OF REVENUE 2021/22 Tax R1 365.1milj 72.6% Loans R 482.6milj 25.7% Non-tax income R 32.5milj 1.7% 1 Which revenue contributes the most to the National Budget? Give the percentage. Which revenue contributes the least to the National Budget? Give the percentage. Give ONE example of a income that is not tax. TAX REVENUE, 2 021/22 Personal inseme tax