Suppose there was a debate regarding how to spend $1 billion in newly found revenues in the budget. Suppose the most liberal Democrat suggests an increase to Food Stamp (SNAP) allotments. Suppose the most conservative Republican suggests an increase in defense spending. The Republican says that, on average, military spending does the most good, so more is better. The Democrat is arguing that the extra food purchased by the extra spending will increase well-being the most. What is going on here? A . Both are employing marginal analysis, just from different perspectives. B. Only the Democrat is using marginal analysis. C. Only the Republican is using marginal analysis. D. Neither are using marginal analysis.

Q: Economist Arthur Laffer famously pointed out that, in some cases, income tax revenue can actually go…

A: Arthur Laffer is the economist who explain the relationship between tax rates and the revenue…

Q: In the context of fiscal policy, what is a budget surplus? A. Government spending exceeds government…

A: Fiscal policy is a basic part of an administration's procedure for dealing with its economy. It…

Q: Economist Arthur lagger famously pointed out that, in some cases, income tax revenue can actually go…

A: The tax is the unilateral payment made by the people towards the government for various purposes…

Q: What are the two sides to the federal budget? (Select two): A. Government Spending B. Equilibrium…

A: The phrase "government expenditure" refers to both the things the government buys and the many…

Q: Give a brief definition of fiscal policy?  What are its economic goals?    Fiscal policy is the use…

A: Answer: Definition of fiscal policy: Fiscal policy is a policy of government wherein the government…

Q: Economist Arthur Laffer famously pointed out that, in some cases, income tax revenue can actually go…

A: As the tax rate goes down, expectation of tax aversion or tax avoidance likewise goes down. Each…

Q: Suppose the government enacts a stimulus program composed of $400 billion of new government spending…

A: It is given that the government increases government spending by $400 billion and it is also given…

Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 +5% of excess over $5,000.…

A: There are different types of taxes imposed by the government on the basis of the type of transaction…

Q: How will the revenues for the bottom line with a budget of $3.4 trillion affect our economy?

A: Answer - Need to find- How will the revenues for the bottom line with a budget of $3.4 trillion…

Q: The economist views the budget as a public policy making tool? True or false

A: False. Reason- Economists view the budget as the opportunity cost. They see budget as the…

Q: The PAYGO budget requirement means: a. that only programs generating revenues may be proposed for…

A: A government's budget records the revenue and spending anticipated by the government in the coming…

Q: During a recession, the government decides to give an additional child tax credit to households of…

A: Recession occurs when there is a fall in the aggregate demand in the economy. The fall in the…

Q: What would it take to convert a sales tax into a true consumption tax? Senator Smith has suggested…

A: A tax on products and services that are consumed or used by people or households is known as a…

Q: During the past five decades, there has been a shift in the composition of the federal budget toward…

A: The government budget represents the spending plans of the government of an economy for a given…

Q: What was the budget agenda for President Barack Obama's administration?

A: Barack Obama's term as the 44th president of the United States started with his foremost…

Q: Why does the budget require a forecast of the economy? Under what circumstances would actual…

A: A budget is a financial document or the financial plan of an economy which includes the planned…

Q: What is wrong with this answer?

A: The correct answer is No one would have an incentive to work once they had earned $200,000, so…

Q: If the total receipts are $1200 billion and total expenditure is $1500 billion then how much will be…

A:

Q: Which of the following sentences correctly describes the budget of the Federal Government of the…

A: The budget deficit states that the government's expenditure surpasses the government's revenue. The…

Q: Congress would like to increase tax revenues by 5.5 percent. Assume that the average taxpayer in the…

A: The following basic information as follows under:-Congress would like to increase tax revenues by…

Q: Explain how fiscal policy, monetary policy, and economic factors influence public budgeting. In what…

A: Macroeconomic unpredictability and uncertainty may have been caused by an assortment of internal as…

Q: Vhich of the following is true of the federal budget process in the U.S.? O a. Detailed budgeting…

A: The federal budget is considered as the estimation of the government revenue and spending for each…

Q: In 2018, the Government of the Federated Republic of Coconut Islands had a budget surplus of $20…

A: Budget = Tax revenue - Government expenditure +20 = tax revenue -324 Tax revenue = 344

Q: What is fiscal policy? What effect does it have on the economy? What effect does the economy have on…

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

Q: What must be true about the level of government expenditures and tax revenues for the federal…

A: Government expenditure is the amount spent by the government in order to provide goods and services…

Q: List the 3 major revenue sources and 3 major expenditures in the 2022-2023 U.S. budget. How much…

A: The practice of estimating income and spending in order to build a financial plan is known as…

Q: Suppose the tax multiplier in an economy is -8. If the government wants to lower total spending (TS)…

A: The tax multiplier shows the effect of any change in taxes on the aggregate demand of the economy.…

Q: Describe some fiscal policies that governments are presently using to counter the impact of…

A: The fiscal policy is used by the government or the finance ministry of the country to regulate the…