The table below shows hypothectical figures of revenue and spending for the Canadian government For simplicity, assume that all ofthe spending grants to other levels of government were spent in Canada on goods and services.REVENUESPersonal income taxesCorporate income taxesOther income taxesGST and excise taxesEX premiumsFederal Government's Budget Plan for Fiscal Year ($billion)OUTLAYS$11526Transfers to personsSpending grants to other levels of governmentPublic debt chargesDirect program spendingTotal OutlaysProjected Budget Plan Surplus34519Other revenues22Total Revenues230a. The projected NTR in this budget plan is $billion.b. The value of NTR less government spending on goods and services (G) is $Round your answers to 1 decimal place.The percentage of total revenue made up by personal income taxes isd. The percentage of total revenue made up by corporate income taxes is 6.e. The percentage of total outlays made up by transfer payments to persons isThe percentage of total outlays made up by public debt charges is%.Prev 1 of 14O Searchbillion.SAMSUNG%465Next >$4046287518941

Net tax revenue will be calculated as tax revenue minus transfer payments. The transfer payments…

The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all o the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes EX premiums Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS $115 26 3 Transfers to persons Spending grants to other levels of government Public debt charges 45 19 Other revenues 22 Total Revenues 230 a. The projected NTR in this budget plan is $ b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate inco taxes is e. The percentage of total outlays made up by transfer payments to persons is %. The percentage of total outlays made up by public debt charges is % Direct program spending Total Outlays Projected Budget Plan Surplus billion. 96. billion. $40 46 28 75 189 41

The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all o the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes EX premiums Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS $115 26 3 Transfers to persons Spending grants to other levels of government Public debt charges 45 19 Other revenues 22 Total Revenues 230 a. The projected NTR in this budget plan is $ b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate inco taxes is e. The percentage of total outlays made up by transfer payments to persons is %. The percentage of total outlays made up by public debt charges is % Direct program spending Total Outlays Projected Budget Plan Surplus billion. 96. billion. $40 46 28 75 189 41

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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C4. What is the meaning of the term ‘tax expenditure’?
QUESTION 13 The tax rates embodied in the federal personal income tax are such that a rising absolute amount, but a declining proportion, of income is paid in taxes. the marginal and average tax rates are equal, making the tax progressive. the average tax rate rises more rapidly pan does the marginal tax rate as income rises. the marginal tax rate is higher than the average tax rate, causing the average tax rate to rise as income rises. QUESTION 14
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See the attached. Which answer is correct?
The question is based on the following information: Item R million 510 540 490 534 Total government revenue Total government expenditure Current government revenue Current government expenditure Non-interest expenditure Cyclically adjusted revenue Cyclically adjusted expenditure The current budget balance is R million. If the balance is negative indicate it using the minus sign in your answer for instance-32 Answer: 500 480 500
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Question: Solve for the equilibrium level of output in the following two scenarios: there isan income tax t=0.1, The income tax would result in the total amount of tax to be the lump sum tax and the income tax rate on income when t=0.1t=0.1 Y=−5+0.5(Y−250−0.1Y)+200+300+50' =−5+0.5(0.9Y−250)+550 =−5+0.45Y−125+550 =0.45Y−420 0.55Y=420Y=4200.55=763.636≅763.64 Please explain this solution. Where does the 0.45Y come from?
a tax decrease will decrease consumption a tax increase will increase consumption consumption and after-tax income are unrelated consumption varies inversely with after-tax incomes consumption varies directly with after-tax incomes
Government Spending Tax Revenues GDP Year 1 $450 $425 $2,000 Year 2 500 450 3,000 Year 3 600 500 4,000 Year 4 640 620 5,000 Year 5 680 580 4,800 Year 6 600 620 5,000 The accompanying table gives budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. The public debt declined in year