Suppose the stock of government debt is $1786 bilion. During the following year tax revenues were $860 bilion and ended the year with a debt of $1837 billion. Calculate Govemment outlaysOA. $911 bilionOB. $809 bilionOC. $169 bilionOD. $51 billionOE $975 bilion

In order to match expenses with revenue and to bridge the deficit (when expenses are greater than…

Suppose the stock of government debt is $1786 bilion. During the following year tax revenues were $860 billion and ended the year with a debt of $1837 billion. Calculate Government outlays OA $911 billion OB. S809 bilion OC. $169 bilion OD. $51 billion OE $975 bilion

Suppose the stock of government debt is $1786 bilion. During the following year tax revenues were $860 billion and ended the year with a debt of $1837 billion. Calculate Government outlays OA $911 billion OB. S809 bilion OC. $169 bilion OD. $51 billion OE $975 bilion

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: 1. Which of the following is an example of govemment discretionary spending: A) Social Security…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: S. The "crowding- out effect" refers to the possibility that larger expen Ehe government simply…

A: Government borrows from the market to fund its increased expenditure, this borrowing leads to an…

Q: 1. Suppose the marginal or bracket tax rate for income from $1 to $15,000 is 12%, the marginal tax…

A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: Given below is information about government income and expenditures: Taxes $50,000 $7,000 $8,000…

A: Given; Taxes= $50000 Government transfer to households= $7000 Interest paid on government debt=…

Q: 2. What are some of the predicted effects of repealing DACA on the U.S. federal budget? Repealing…

A: DACA was created to safeguard qualifying immigrant teenagers who arrived in the United States as…

Q: GDP $ 450 $ 425 $ 2,000 500 450 3,000 600 500 4,000 640 620 5,000 5 680 580 4,800 6 600 620 5,000…

A: Answer; Option (a) 6 is correct answer

Q: Which of the following fiscal policy changes would be the most contractionary? O A. a $10 billion…

A: Fiscal and monetary policies are used by governments to achieve certain economic goals. The monetary…

Q: Future debt is basically the sum of: (i) past debt (ii) interest payments (iii) budget deficit (iv)…

A: Debt can be understood as an amount of money which one owe to somebody. It is like a liability which…

Q: Suppose real GDP is constant. If the government's fiscal policy objective is to keep the size of the…

A: Here, it is given that the economy has constant real GDP and government wants to maintain the size…

Q: The larger the amount of outstanding national debt: the lower the tax revenue the government must…

A: The national debt is the full sum of cash a government owes to foreign lenders and its citizens.…

Q: Based on research conducted by the Department of Economic Analysis, the government and policy…

A: Fiscal policy is defined as the policy under which the government uses tools such as government…

Q: Suppose that you are a member of the Council of Economic Advisers. The president has asked you to…

A: The COVID-19 has contributed to worsening economic conditions in the United States and around the…

Q: Consider the following information for the country of Nectar. Public Finances 2018 100 20 130 20 196…

A: Public finances refer to the financial operations and management of the government or public sector…

Q: a) Using IS/LM diagram explain the likely etfects of a fiscal financed by government borrowing on…

A: a) When government raises its budget deficit in order to increase output, it leads to a rise in the…

Q: Quèstion 13 T2 A B GDP Refer to the diagram. Discretionary fiscal policy designed to expand GDP is…

A: Answer: To slow down the economy, government uses contractionary fiscal policy, by decreasing…

Q: 10. Study Questions and Problems #10 Evaluate the following statement explaining why our…

A: Public debt, also known as national debt or government debt, refers to the total amount of money a…

Q: 4.7) Consider a national income tax that is structured as follows: Income Marginal tax rate…

Q: 100 80 60 40 20 O $100 200 300 400 500 600 700 800 900 GDP Refer to the diagram, in which Tis tax…

A: When spending surpass receipts, a budget deficit occurs, and it indicates a country's financial…

Q: Government Tax Revenues Spending $ 450 Year GDP 1 $ 425 $ 2,000 2 500 450 3,000 3 600 500 4,000 4…

A: Government planned their Budget , one part is revenue and one part is expenditure , so here we…

Q: The country of Opulencia loves to live large, but has a major debt problem. It has a national debt…

A: National Debt = 800 billion Intergovernmental Borrowing = 400 billion Bonds held by domestic…

Q: Suppose a tax is such that an individual with an income of $10,000 pays $1,500 of tax, a person with…

A: The tax rate is the percentage of an income or the amount of money that an individual or firm has to…

Q: For each of the following scenarios, determine which time lag is most likely to result when…

A: Fiscal policy refers to the use of government spending and taxation to influence the aggregate…

Q: According to our discussions, how many rounds of fiscal stimulus have been enacted to mitigate the…

A: Fiscal measures act as a support during economic challenges, preventing downturns and fueling…

Q: 9. An uncapped dollar-for-dollar federal matching grant may be mor efficient than a federal block…

A: Uncapped means not covered as with a cap and matchings grants in the simplest terms are grants that…

Q: Table 12-10 On Taxable Income ... The Tax Rate is ... Up to $8,375 10% From $8,375 to $34,000 15…

A: Taxable income: It is the total income onto which a tax slab applies based on which an individual or…

Q: The figure shows government expenditure and revenue as a percentage of GDP, 1990-2019. Durir which…

A: The government is said to run a budget surplus when its revenue receipts exceeds its expenditure.…

Q: Assuming a $7 per unit tax is imposed, in calculating the realative burdent of the tax does it…

A: Government imposed a tax of $7, it will decrease the supply and shifts it to the left by the amount…

Q: Paying a tax of $15 on an income of $200, a tax of $10 on an income of $300, and a tax of $8 on an…

A: the information provided seems contradictory at first glance. While the statement mentions paying a…

Q: Thelma's current income is $100,000 and she currently pays $30,000 in income tax. Any income she…

A: Average tax rate = (Total tax paid / Total income) Marginal tax rate = (Change in tax paid / Change…

Q: 1. Consider a two-period economy with lump-sum taxes. Suppose ment announces a tax cut of 10 in…

Q: s this tax progressive regressive or pronortional?

A: As per the question 5% sales tax is levied on the consumption level of the consumer which implies…

Q: ook Refer to the following table for Waxwania: Government Expenditures, G $ 170 Tax Revenues, T Real…

A: Let Y represent the Real GDP. Step 1:a.The marginal tax rate (MTR) is calculated as; MTR…

Q: Figure S-23. The figure represents the relationship between the size of a tax and the tax revenue…

A: Laffer curve refers to the curve that depicts the relationship between the tax revenue of the…

Q: The following table presents the total tax liability for an unmarried taxpayer under four different…

A: The average tax rate is the total amount of tax paid divided by the taxable income. It is a measure…

Q: Aside from the few years during Clinton's administration, what is the state of the national debt?…

A: In the United States, government has changed based on electoral system due to which different…

Q: Consider the following data about government debt and deficit in a given year: - real interest rate…

A: The debt-to-GDP ratio is a financial metric that compares a country's total debt to its gross…

Q: Refer to the accompanying table for Waxwania. Government Expenditures, G Tax Revenues, T Real GDP…

A: Average tax rate = (Tax paid / Taxable income) => Average tax rate = (Tax revenue / Real GDP)…

Q: QUESTION 32 Reasonable uses of debt include all the following EXCEPT O a. to purchase a car. O b. to…

A: Debt basically refers to the amount that is taken by an businesse organization for some duration of…

Q: nington s ome tax llabllity ах Па HE 2017 tax rate schedule in appendix D in - ook). b. What is…

A: Tax liability is the amount of money in the form of tax debt you owe to tax authorities. Here, we…

Q: Analyze the graph below, showing the Gross Federal Debt as a percentage of GDP for the United States…

A: GDP: It refers to the gross domestic product of the economy. The GDP helps in showing the wealth of…

Q: External debt of the United States refers to O The ownership of nongovernment debt by the…

A: External debt refers to the total debt a country owes to foreign creditors. This debt can be owed by…

Q: Figure 41 Туре Frictional Current Rate 2.1 Structural 22 Cyclical 2.5 Using Okun's Law and the data…

A: Macroeconomics is a sub-part of economics that is used to understand, the policies and fiscal…

Q: 1. Why is a $100 billion increase in government spending on goods and services more expansionary…

A: In an economy, a 1% change in government spending will have different impact on the real GDP as…

Q: 9. Why do Social Security and Medicare pose problems for the federal government budget? The number…

A: Social security and Medicare are considered as the components in which the larger share of…

Q: The amount the government owes to the public is the deficit. O True O False

A: The total amount that the US Federal Government has borrowed over the course of its history. from…

Question

Suppose the stock of government debt is $1786 bilion. During the following year tax revenues were $860 bilion and ended the year with a debt of $1837 billion. Calculate Govemment outlays
OA. $911 bilion
OB. $809 bilion
OC. $169 bilion
OD. $51 billion
OE $975 bilion

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

6. The amount by which federal tax revenues exceed federal government expenditures during a particular year is the A. public debt. OB. budget deficit. O C. Federal Reserve. D. budget surplus.
Figure 4-11 LAFFER CURVE 100 в Tax Revenue Refer to Figure 4-11. On the Laffer curve shown, tax revenue could be increased by decreasing the marginal tax rates if we were currently at point A. O decreasing the marginal tax rates if we were currently at point C. O increasing the marginal tax rates if we were currently at point B. increasing the marginal tax rates if we were currently at point C. Tax Rate (percent)
The percentage of an increase in income that is taxed is: O a regressive tax. O the marginal tax rate. O the average tax rate. O a flat tax.
5. Study Questions and Problems #5 True or False: The marginal tax rate is calculated using additional income, while the average tax rate is calculated using total income. True O False
Refer to the tax table below. If your taxable income is $8,000, your average and marginal tax rates are Taxable Income Total Tax $ 2,000 $ 200 4,000 600 6,000 1,200 8,000 2,000 10,500 3,000 25% average rate and 25% marginal rate on additional income. 25% average rate and 40% marginal rate on additional income. 20% average rate and 30% marginal rate on additional income. 25% average rate with a marginal rate that can not be determined.
Suppose a tax is such that an individual with an income of $10,000 pays $2,500 of tax, a person with an income of $20,000 pays $5,000 of tax, a person with an income of $30,000 pays $7,500 of tax, and so forth. Instructions: Enter your answers rounded to 1 decimal place. a. What is each person's average tax rate? Income Таx Paid Average Tax Rate $ 10,000 $ 2,500 % 20,000 5,000 30,000 7,500
The difference between total federal debt issued and total federal debt "held by the public" is which of the following? O Federal debt held by foreigners. Federal debt held by the fed for use in monetary policy. Federal debt held by international organizations. Federal debt held by government agencies.
Today the federal government collects nearly O $1 billion a year in tax revenues. O $500 billion a year in tax revenues. O $1 trillion a year in tax revenues. O $4 trillion a year in tax revenues.
Please answer the following question: 1. What is the largest component of the federal budget?A) EntitlementsC) DetenseBi Net interest
The government budget is in DEFICIT when OT G-Transfers (TR) - Interest on the Debt (INT) 0 Government expenditures (G) - Investment expenditures (I) 0
Consider the following tax structure: Income Bracket Marginal Tax Rate 0% $0- $6,000 $6,000 $25,000 > $25,000 20% 40% a. Mr. Smith has an income of $90,000 per annum. Calculate his tax bill for the year: $ b. What is his average tax rate? % (Round to two decimal places.) c. What is his highest marginal tax rate?