### Understanding Cyclical vs. Structural Budget Balances#### Data Table: Cyclical vs. Structural Budget Balances (In Billions of Dollars)| Fiscal Year | Budget Balance | Cyclical Component | Structural Component ||-------------|----------------|--------------------|----------------------|| 2000 | 236 | 58 | 178 || 2001 | 128 | -1 | 129 || 2002 | -158 | -83 | -75 || 2003 | -378 | -107 | -271 || 2004 | -413 | -58 | -355 || 2005 | -318 | -20 | -298 || 2006 | -248 | 11 | -259 || 2007 | -161 | 17 | -178 || 2008 | -459 | -25 | -433 || 2009 | -1,413 | -251 | -1,162 || 2010 | -1,294 | -291 | -1,004 || 2011 | -1,270 | -234 | -1,036 || 2012 | -1,126 | -247 | -879 || 2013 | -679 | -206 | -473 || 2014 | -485 | -168 | -317 || 2015 | -439 | -66 | -373 || 2016 | -585 | -76 | -509 || 2017 | -666 | -53 | -612 || 2018 | -779 | 11 | -790 || 2019 | -983 | -54 | -1,037 || 2020 | -3,310 | -403 | -2,907 |#### Instructions:Use the data above to answer the following questions:1. How much fiscal stimulus or restraint occurred between: - 2007 and 2008? - 2017 and 2018?

Fiscal stimulus refers to a governmental strategy aimed at enhancing economic growth through either…

Use the data related to cyclical vs. structural budget balances (in billions of dollars) to answer two questions. Budget Balance Cyclical Component + 236 58 128 -1 -158 -83 -378 -107 -413 -58 -318 -20 -248 11 -161 17 -459 -26 -1,413 -251 -1,294 -300 -1,300 -264 -1,087 -680 -485 -439 -585 -665 -779 -984 -3,310 Fiscal Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2007 and 2008? $ -208 -207 -168 -86 -76 -53 11 53 -403 b. 2017 and 2018? billion of fiscal (Click to select) Instructions: Enter your responses as a whole number. How much fiscal stimulus or restraint occurred between Structural Component 178 129 -75 -271 -355 -298 -259 -178 billion of fiscal (Click to select) -433 -1,162 -994 -1,036 -879 -473 -317 -353 -509 -612 -790 -1,037 -2,907

Use the data related to cyclical vs. structural budget balances (in billions of dollars) to answer two questions. Budget Balance Cyclical Component + 236 58 128 -1 -158 -83 -378 -107 -413 -58 -318 -20 -248 11 -161 17 -459 -26 -1,413 -251 -1,294 -300 -1,300 -264 -1,087 -680 -485 -439 -585 -665 -779 -984 -3,310 Fiscal Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2007 and 2008? $ -208 -207 -168 -86 -76 -53 11 53 -403 b. 2017 and 2018? billion of fiscal (Click to select) Instructions: Enter your responses as a whole number. How much fiscal stimulus or restraint occurred between Structural Component 178 129 -75 -271 -355 -298 -259 -178 billion of fiscal (Click to select) -433 -1,162 -994 -1,036 -879 -473 -317 -353 -509 -612 -790 -1,037 -2,907

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Fiscal Policy- Ask FRED The accompanying graph depicts the unemplovment insurance benefits paid bv the U.S. government. ALFREDP Personal current transfer receipts: Government social benefits to persons: Unemployment insurance Vintage: 2018-01-29 180 160 140 120 100 60 40 20 2005 2010 2015 975 Source: U.S. Bureau of Economic Analysis a. What is the maximum monthly amount the government spent on unemployment insurance? Enter your answer in billions of dollars billion
Month/Yr Sep/2020 Cyclical Rate of Unemployment (percent) 3.5 Suppose it is claimed that actual real GDP deviates from potential real GDP by 2% for every percentage point of cyclical unemployment. In other words, assume that actual real GDP falls below (or rises above) potential real GDP by 2% when the rate of unemployment rises above (or falls below) the natural rate of unemployment by 1%. Given the cyclical unemployment rate recorded above, this translates into actual real GDP deviating from potential real GDP by $ billion. (Enter your response rounded to one decimal place and use a minus sign if necessary. If actual GDP is below potential GDP, enter your answer as a negative value.)
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Please using examples and clearly labeled graphs where applicable answer the following question clearly and detailed. The government decides to pursue a policy of keeping the amount of tax revenue it collects to be a fixed amount. In terms of tax rates, is this policy pro-cyclical, countercyclical, or neutral? Is this a good policy for the government to adopt?
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From the 1960s to 2020, transfer payments A. have declined by half as a percentage of total federal government expenditures. B. have grown very slowly as a percentage of total federal government expenditures. C. remained the same percentage of total federal government expenditures. D. have risen from 25 percent to just over 50 percent percent of federal government expenditures.
Select the correct option and explain why it is correct : a) Critics of discretionary fiscal policy argue that discretionary policy : 1) has uncertain effects 2) has an impact lag that is too short. 3) raises more inflation than policy rules. 4) has long recognition and implementation lags. b) The largest share of expenditures by state and local governemtnn is for : 1) Transfer payment 2) national defense 3) law enforcement 4) purchase of goods and services c) Countercyclical fiscal policy is designed to : 1) shift the inflation adjustment line so that real GDP is equal to potential GDP 2) reduce unemployment further when it is already at a low level 3) increase potential GDP 4) shift the aggregate demand curve so that real GDP equals potential GDP. d) Which of the following types of taxes provide the most revenue for the federal governemtn 1) Payroll taxes 2) income taxes 3) Sales taxes 4) corporate taxes
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