The tables show the spending and revenue for Littleland in 2010. Use the tables and other information to answerthe questionsSpending categoryeducationwelfare and Social Securityhealth caredefensepayments on debtotherValue (millions)$320$890$270$120$170*$%240Revenue categoryValue (millions)ncome taxsales taxcorporate taxsocial insurance$800$270$300$340GDP in 2010: $7.3 billion Total debt as of2009: S3.5 billior*This payment covers total interest owed onlyHow much money in millions did Littleland need to borrow in 2010 to finance its government spending?What was Littleland's deficit to GDP ratio in 2010? Give your answer to the nearest whole percentage point.At the end of 2010, what was Littleland's debt to GDP ratio? Give your answer to the nearest whole percentage point.

Little land Borrow:Little land Borrow can be calculated as follows:

Answered: The tables show the spending and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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a What is the total value of government spending? b What is the value of total consumer spending? c What is the country's total GDP?
Government spending $515 Tax revenues Year 1 $400 Year 2 459 442 Year 3 529 482 Refer to the above data. If year 1 is the first year of this nation's existence and year 3 is the present year, how much is this nation's public debt?
Plz solve in 15 min it's urgent.
Find the value of gross national product at factor cost if gross national product at Market price is $1400 million and the net indirect taxes is $42 million
24. The change in the Taxes on corporate income, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 27. The change in the Contributions for government social insurance FROM PERSONS, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 30. The change in the Current expenditures, from 4th quarter of 2017 to the 4th quarter of 2019 is: ______ billions. 31. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2019 is: $______ billions. 32. The Government social benefits To persons (included in current expenditures) for the 4th quarter of 2017 is: $______ billions.
If you earn 70000 in 2021, and filing taxes as single, then what is the tax due? Assume you contribute 5% to 401k, another 5% to medical insurance and HSA. (Assume 2020 tax tables) Answer:
Consider the following economy below in 2010 and 2020. What is the debt-to-GDP ratio in 2020? Year 2010 2020 Nominal Debt 1000 2500 Nominal GDP 4000 8000 Price Level/GDP Deflator 100 150 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 0.17 b 0.25 0.31 d 0.63
Table 12-12United States Income Tax Rates for a Single Individual, 2009 and 2010. 2009 Tax Rates Income Ranges 2010 Tax Rates Income Ranges 15% $0 – $28,000 10% $0 – $10,000 28% $28,000 – $70,000 15% $10,000 – $30,000 31% $70,000 – $140,000 27% $30,000 – $60,000 36% $140,000 – $300,000 30% $60,000 – $150,000 40% over $300,000 35% $150,000 – $320,000 38% over $320,000 Refer to Table 12-12. Kurt is a single person whose taxable income is $35,000 a year. What is his marginal tax rate in 2010? Group of answer choices 10% 15% 27% 30%
Question 24 Different countries collect and spend their taxes in different ways. Theses differences: a indicate that some countries are more efficient in the ways they collect tax revenue and allocate that revenue. b indicate that some countries are bigger than other countries. c reflect that the people of some countries earn more income than people of other countries. d reflect differences in the values of the people of different countries.
E. Use the following data to calculate Jamaica's GDP. Use the INCOME approach. Items Indirect Business Taxes Corporate Profit Proprietor's Income Rent and Interest Earned Capital Consumption US (Billion) 198 251 123 148 94 (4 marks) 4
explain how income tax affects (i) household savings (ii) business investment
1. High incoime family. Income before tax: $500,000 tax rate 37% taxes paid $185,000 after tax income $315,000. 2. Middle income family. Income before tax: $50,000. tax rate 20% taxes paid 10,000 after tax income $40,000 3. Low income family. Income before tax: $20,000 tax rate 10% taxes paid $2,000 after tax income $18,000 Using the table, what is the ratio of a high-income family's income to a low-income family's income before and after taxes?

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