Need help with this. Thanks! 1. Government expenditures in the United StatesThe first table that follows shows approximate government expenditures as a percentage of GDP for selected years. For the same years, the first tablealso shows different categories of federal expenditures as percentages of total federal government expenditures. The second table shows governmenttax revenue as a percentage of GDP for the selected years. The second table also shows different categories of federal tax receipts as percentages oftotal federal tax receipts. (Source: "U.S. Government Printing Office.")Government Expenditures (GDP %)State andLocal7%10%12%Year195019702020Federal16%19%31%Income Security National Defense13%Expenditures as a Share of the Federal Government BudgetEducation Net Interest onand HealthFederal Debt22%48%32%40%11%2%11%15%11%9%5%Others*42%18%14% *Including transportation, agriculture, veterans' benefits, international affairs, housing, and so on.Government Tax Receipts (GDP %)State andLocal7%10%17%Year195019702020Federal14%19%16%IndividualIncome Taxes40%47%47%Which of the following statements are true? Check all that apply.Federal Government ReceiptsSocial InsuranceTaxes11%23%38%CorporateIncome Taxes26%17%6%Excise Taxes19%8%3%Others4%5%6%O Between 1970 and 2020, national defense expenditures as a percentage of the federal budget grew, while income security expenditures asa percentage of the federal budget declined.The growth in total government expenditures since 1970 is largely due to increases in education.Total state and local government expenditures represented less than 5% of GDP in 2020.Between 1950 and 2020, total government expenditures (federal, state, and local combined) grew from about one-fourth of GDP to morethan one-third of GDP.

Nominal gross domestic product (GDP) is GDP provided in current prices without adjustment for…

vernment expenditures in the United States st table that follows shows approximate government expenditures as a percentage of GDP for selected years. For the same years, the first table hows different categories of federal expenditures as percentages of total federal government expenditures. The second table shows government venue as a percentage of GDP for the selected years. The second table also shows different categories of federal tax receipts as percentages of ederal tax receipts. (Source: "U.S. Government Printing Office.") Government Expenditures (GDP %) State and Local 7% 10% Year 1950 1970 2020 Federal 16% 19% 31% 12% Income Security National Defense 13% 22% Expenditures as a Share of the Federal Government Budget Net Interest on Education and Health Federal Debt 48% 32% 40% 11% 2% 11% 15% 11% 9% 5% Others* 42% 18% 14%

vernment expenditures in the United States st table that follows shows approximate government expenditures as a percentage of GDP for selected years. For the same years, the first table hows different categories of federal expenditures as percentages of total federal government expenditures. The second table shows government venue as a percentage of GDP for the selected years. The second table also shows different categories of federal tax receipts as percentages of ederal tax receipts. (Source: "U.S. Government Printing Office.") Government Expenditures (GDP %) State and Local 7% 10% Year 1950 1970 2020 Federal 16% 19% 31% 12% Income Security National Defense 13% 22% Expenditures as a Share of the Federal Government Budget Net Interest on Education and Health Federal Debt 48% 32% 40% 11% 2% 11% 15% 11% 9% 5% Others* 42% 18% 14%

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 19E

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9. Make a graph showing the spending and tax revenue of your state government for as many years as you can find (use the government of your home country if you are not from the United States). What trends do you notice? What spending categories make up the largest share of the state budget? What are the largest sources of revenue? e
Complete the following table and answer one question. a. Assuming an 8 percent sales tax is levied on all consumption, complete the following table: Instructions: Round your responses for "Sales Tax" to the nearest whole number. Round your responses for "Percentage of Income Paid in Taxes" to one decimal place. Income Consumption $10,000 20,000 40,000 80,000 Sales Tax $11,000 $ 20,000 $ 1,400 36,000 $ 2,520 60,000 $ 4,200 x 770x Percentage of Income Paid in Taxes 7.7% 7.0% 6.3% X 5.3%
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2. Calculating the debt to GDP ratio Suppose the following statistics characterize the financial health of the hypothetical economy Spendia at the end of 2017: • Gross domestic product (GDP) is equal to $100 billion. • The national debt is equal to $130 billion. • The government has a budget deficit of $7 billion. • The debt ceiling in Spendia is set at $148 billion. The following calculations help you see how the ratio of debt to GDP changes from one year to the next. Complete the first row of the following table by computing the ratio of national debt to GDP. Suppose that nominal GDP remains at $100 billion in 2018, and again the government runs a budget deficit of $7 billion. For simplicity, assume the interest rate on the national debt is 0%, and no payments are being made to reduce the debt. Calculate national debt and the debt-to-GDP ratio in 2018. Enter these values in the second row of the following table. Year 2017 2018 GDP National Debt (Billions of dollars) (Billions of…
The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all of the spending grants to other levels of government were spent in Canada on goods and services. REVENUES Personal income taxes Corporate income taxes $120 28 2 48 18 Other revenues 21 Total Revenues 237 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. c. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate income taxes is e. The percentage of total outlays made up by transfer payments to persons is f. The percentage of total outlays made up by public debt charges is Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS Other income taxes GST and excise taxes EI premiums Transfers to persons Spending grants to other levels of government Public debt charges Direct…
1. Please answer letter D,E and F
2. Calculating the debt to GDP ratio Suppose the following statistics characterize the financial health of the hypothetical economy Debtenburg at the end of 2017: • Gross domestic product (GDP) is equal to $150 billion. • The national debt is equal to $180 billion. • The government has a budget deficit of $9 billion. • The debt ceiling in Debtenburg is set at $198 billion. The following calculations help you see how the ratio of debt to GDP changes from one year to the next. Complete the first row of the following table by computing the ratio of national debt to GDP. Suppose that nominal GDP remains at $150 billion in 2018, and again the government runs a budget deficit of $9 billion. For simplicity, assume the interest rate on the national debt is 0%, and no payments are being made to reduce the debt. Calculate national debt and the debt-to-GDP ratio in 2018. Enter these values in the second row of the following table. Year 2017 2018 GDP National Del (Billions of dollars) (Billions of…
6. Which of the following is not a fiscal instrument: * O Budget O Public expenditure Taxation All are fiscal instruments TOSHIBA
Briefly explain whether each of the following statements is true or false 5. There is no limit to the real seigniorage revenues governments can obtain by printing money to pay for public expenditure.