Ch 17- Budget balances The graph, questions seen in photo, and the question in italics are what I need help with, thanks!In 1967, the national debt (increased or decreased) by ( how many billion dollars). FEDERAL EXPENDITURES AND REVENUES (Percent of GDP)25150O192900192919481967In which years was the government's budget in deficit? Check all that apply.1986194820051967YEAR19862005ExpendituresRevenues? 3. Budget balances and the national debtThe following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars.Year19291948196719862005Revenues(Billions of dollars)3.941.6148.8769.22,153.9Expenditures(Billions of dollars)3.129.8157.5990.42,472.2GDP(Billions of dollars)103.6269.2832.64,462.812,421.9Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the orange points(square symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points.

The scenario where spending exceeds revenue is referred to as a budgetary deficit. Although it is…

Answered: The graph, questions seen in photo, and…

The graph, questions seen in photo, and the question in italics are what I need help with, thanks! In 1967, the national debt (increased or decreased) by ( how many billion dollars

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ch 17- Budget balances

The graph, questions seen in photo, and the question in italics are what I need help with, thanks!

In 1967, the national debt (increased or decreased) by ( how many billion dollars).

FEDERAL EXPENDITURES AND REVENUES (Percent of GDP)
25
15
0
O
1929
0
0
1929
1948
1967
In which years was the government's budget in deficit? Check all that apply.
1986
1948
2005
1967
YEAR
1986
2005
Expenditures
Revenues
?

3. Budget balances and the national debt
The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars.
Year
1929
1948
1967
1986
2005
Revenues
(Billions of dollars)
3.9
41.6
148.8
769.2
2,153.9
Expenditures
(Billions of dollars)
3.1
29.8
157.5
990.4
2,472.2
GDP
(Billions of dollars)
103.6
269.2
832.6
4,462.8
12,421.9
Plot the data for revenues and expenditures as a percentage of GDP on the following graph, rounded to the nearest percent. Use the orange points
(square symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points.

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