Suppose that in 2016 the federal government spent $730 billion and collected $480 billion in taxes while in 2017, government spending fell to $680 billion and government revenue increased to $780 billion. If the government debt was $5 trillion at the beginning of 2016, what will it be at the end of 2017?

Suppose that in 2016 the federal government spent $730 billion and collected $480 billion in taxes while in 2017, government spending fell to $680 billion and government revenue increased to $780 billion. If the government debt was $5 trillion at the beginning of 2016, what will it be at the end of 2017?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

List what specific, deliberate actions the federal government could take to enact expansionary fiscal policy.
Find the value of Fiscal deficit if the primary deficit is $800 and the Interest payment is $280.
Which of the following is NOT a component of federal fiscal policy? A. Federal tax revenues B. Federal government expenditures C. Federal budget deficit D. All of the above are components of federal fiscal policy
Use the table to answer the following questions: Public Debt over Time United States France Italy Belgium Australia France Belgium Australia the United States 2001 Debt $3.3 trillion $0.9 trillion $1.5 trillion $0.3 trillion $0.2 trillion According to the table, which country appeared to be in the worst fiscal shape in 2012? Italy GDP $10.2 trillion $1.5 trillion $1.2 trillion $0.3 trillion $0.7 trillion 2011 Debt $12.2 trillion $1.8 trillion $1.7 trillion $0.3 trillion $0.4 trillion GDP $15.0 trillion $2.0 trillion $1.6 trillion $0.4 trillion $1.4 trillion
What will be the primary deficit if the fiscal deficit is 320 and the interest payment by the government is 300 ???
view picture
In year one government taxes are 590,000 and government spending is 600,000 in year two government taxes are 590,000 and government spending is 590,000 in year three government taxes are 630,000 and government spending is 600,000. What is the government deficit for year two and provide the size of the government debt or surplus at the end of all three year.
Describe how the federal deficit is a burden on the shoulders of future generations.
A government starts with a national debt of $3.5 billion. In year 1, the government runs a budget deficit of $400 million. In year 2, the government runs a budget deficit of $1 billion. In year 3, the government runs a budget surplus of $200 million. What is the government's national debt at the end of the third year?
What is the relationship between the government deficit and debt? Why is it essential that governments make the payments on their debts?
The government starts with a debt of $4 billion. In year one, the government runs a deficit of $600 million. In year two, the government runs a deficit of $1 billion. In year three, the government runs a surplus of $300 million. What is the total debt of the government at the end of year three? Show work.
Consider the government debt at the beginning of the year 2010 equals $2 000, the annual interest rate on the government debt – 8%. Government expenditures over the current year 2010 equal $1 500, government transfers - 20% of output. Government income is 40% of output. Calculate the government debt burden (government debt to total output) at the end of the current year 2010 if the output equals $5 000.