Concept Introduction Government Revenue- The fiscal tool which implies the money received by the government is the Government revenue. The chief sources of Public Revenue are Tax Revenue, direct and indirect and Non-Tax Revenue (dividends and profits from the PSUs). Government Expenditure- The government spending on final goods and services as public consumption, public investment, transfer payments and capital transfers is the spending tool of the fiscal policy. Entitlement and discretionary expenditure- These are the mandatory expenditures within the public expenditure of the US government. It includes the government spending on the entitlement programs like Social Security benefits and Medicare. The other components of public spending are the discretionary spending which are implemented through the appropriations bill and interest liability.

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Chapter 14, Problem 13P

To determine

Concept Introduction

Government Revenue- The fiscal tool which implies the money received by the government is the Government revenue. The chief sources of Public Revenue are Tax Revenue, direct and indirect and Non-Tax Revenue (dividends and profits from the PSUs).

Government Expenditure- The government spending on final goods and services as public consumption, public investment, transfer payments and capital transfers is the spending tool of the fiscal policy.

Entitlement and discretionary expenditure- These are the mandatory expenditures within the public expenditure of the US government. It includes the government spending on the entitlement programs like Social Security benefits and Medicare. The other components of public spending are the discretionary spending which are implemented through the appropriations bill and interest liability.

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