The budget function for the economy of Sunsville is T - G = -400 + 0.25Y. a) Suppose income is $4,000. What is the value of the budget surplus or deficit? b) What range of income will give Sunsville a budget surplus? c) What range of income will give Sunsville a budget deficit?

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: Which types of budget cuts only reduce areas that have overspending? Group of answer choices…

A: Budgets refers to the preparation of the spending plans based on the income. Budgets are prepared by…

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: Which of the following statements do economists generally disagree on? a) At an average tax rate of…

A: The objective of the question is to identify the statement that economists generally disagree on…

Q: The economy is at full employment, with fairly low levels of unemployment and inflation. What is…

A: Answer: A budget surplus occurs when the government revenue is more than the government expenditure.…

Q: Explain the difference between discretionary and automatic spending by the government.

A: Both discretionary and automatic spending by the government are the tools of fiscal policy a…

Q: Answer all the questions! 1. What has been the relationship over the past century between the…

A: The term "government revenue" describes the funds that a government receives from a variety of…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: Calculate the value of total receipts if Total expenditure is $320 million and the budgetary deficit…

A: The information being given to us is as follows:- Total expenditure = $320 million Budgetary deficit…

Q: Report the outlays for the bottom line of the current (last) budget approved by Congress (surplus or…

A: Introduction: A budget, as opposed to an account that records financial transactions, is a…

Q: Below are some budgeting techniques which are used rarely (or more often) by government agencies and…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Fred gathered data on the price and quantity demanded of chocolate over the course of a week.  He…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: A government budget surplus is __________. Question 22 options:     a situation in which the amount…

A: Government budget balance depends on how much government is giving and how much it is getting.

Q: Describe the following term in your own words. Balanced budget

A: Budget shows the total receipts(income) and total expenditure of the government in a fixed period of…

Q: If government spending is greater than the taxes that the government collects then there is a budget…

A: Government spending refers to the money spent by the government on the acquisition of goods and…

Q: Suppose that when he took office in January 2009, President Obama wanted to reduce the level of…

A: The Country U's Department of Justice houses the DEA as a federal law enforcement organisation. Its…

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: Consider the US budget for the fiscal year that ended on Sept 30 2023. Total government spending for…

A: A budget deficit occurs when a government's total expenditures exceed its total revenue. This means…

Q: In a country, a value-added tax (VAT) is applied at each stage of production. The nature of VAT…

A: Value-added tax (VAT) refers to a tax paid by the seller of the products, but it is ultimately…

Q: To raise revenues during the recent recession, the governor of your state proposed the following…

A: Formula:  N(I) = income - (tax rate * income)

Q: If the country of Magnolia had G = $700 and T = $800, then O it had a budget deficit of $100 it had…

A: Budget deficit occurs when government's expenditure is more than its revenues. Budget surplus occurs…

Q: Which statement is an argument against a tax system that encourages savings?     that individuals…

A: The statement is that which is an argument against a tax system that encourages savings.  The…

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: Which of the following is true of government finances? state & local government's share of total…

A: The study of the government's role in the economy is known as public government finance. It is the…

Q: 4)  Why should the federal government not be required to balance its budget while state and local…

A: A budget is a financial plan for an economy. the budget is the plan which is made or drawn for a…

Q: After many years of budget surpluses, why did the government drastically increase spending in 2009?

A: in 2008 and 2009 global economy was experiencing what we called great recession it started since…

Q: There is an _________ relationship between tax rate and supply of a good

A: The tax imposed by the government and the subsidy lend by the government all impacts the cost of…

Q: Using the budget data below, calculate the change in the debt-to-GDP ratio from the end of 2019 to…

A: A financial measure called the debt-to-GDP ratio contrasts the total amount of government debt held…

Q: 1. Taxes and Efficiency Suppose the government is thinking about levying a per-unit tax of $30…

A: Dear student, kindly check the answer in the answer explanation box below.Explanation:Approach to…

Q: What will happen to the amount of taxes collected by the government during a recession when there is…

A: please find the answer below.

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: During the 1990s, the federal budget moved from a deficit to a surplus. What factors accounted for…

A: A budget surplus implies the government will have an extra fund and these funds will be used to pay…

Q: How will the imposition of a fiscal policy for an increase in import duties on vehicles impact…

A: When the government increases import duties on vehicles then these vehicles will become costly in…

Q: Representative household spends its fixed monetary income M on two goods X and Y. Good X is taxed at…

A: Identifying the assumptions and implications of the statement.The statement assumes that the…

Q: Is it possible for a nation to run budget deficits and still have its debt/GDP ratio fall? Explain…

A: GDP or the Gross Domestic Product refers to the value of the final goods and services produced…

Q: Upon graduating from UT this May, you take on a management position working at UtMax theater. You…

A:

Q: Which of the following is a significant revenue source for state and local governments, but not the…

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

Q: hoenix Dubai is a small shop that has been operating in the United Arab Emirates for several years.…

A: The generation of money from normal operations of the business is known as revenue. It is being…

Q: In an expansion, holding everything else constant, a previously existing budget surplus will…

A: Expansion is a phase in the business cycles when the economy experiences high business activities.…

Q: Please Read the Following Paragraph and Answer the Following Questions Oman’s government will…

A: Ans in step 2