60+Import favoritesHow can you find the main idea of this graph?OOOA) Look at the labels on the graph.B) Read the title of the graph.C) Consider the format of the graph.D) Read the data in the graph.Federal Spending in Fiscal Year 2020Social Security$1.1 TrillionMedicare$769 BillionMedicaid$458 Billion$345Billion Defense$714 BillionOutlays$6.6 TrillionPPP$526 BillionUnemployment RecoveryCompensS473 Billion SNondefense5914 onOther$968 Billion

Within a given dataset, a pie chart is an illustration that shows the proportionate distribution of…

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Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 19E

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10 eBook The diagram shows government expenditures and tax revenues for the fictional country of Mountainia. Currently, there is a recession in Mountainia. The country's leaders want to use tax-rate changes to create a cyclically adjusted budget deficit of $3 billion. a. Illustrate how the country's tax revenues will change after the government adjusts tax rates to create this cyclically adjusted budget deficit. Instructions: Use the tool provided 'T2' to illustrate the country's tax revenues after the tax changes are enacted. Government expenditures, G, and tax revenues, T (billions) $25 $20 $15 $10 $5 0 G $40 $80 $120 $160 $200 Real domestic output, GDP (billions) Tools T₂
Give some examples of changes in federal spending and taxes by the government that would be fiscal policy and some that would not.
What are the main categories of U.S. federal government spending?
Why is government spending typically measured as a percentage of GDP rather than in nominal dollars?
omework /tlow/connect.html X work i Saved he following table gives the gross domestic product (in dollars) adjusting for different price levels in different countries. GDP per capita in 2015 (thousands of dollars per person) Country 55.8 United States 17.5 Mexico 6.2 India Source: International Monetary Fund. April 2016 % Instructions: Enter your responses rounded to one decimal place. Calculate Mexico's GDP per capita as a percentage of U.S. GDP per capita. % a) Calculate India's GDP per papita as a percentage of U.S. GDP per capita. b)
5. Allocation of government expenditures Federal and local governments tax and spend. The following pie charts show the allocation of federal and local government expenditures in 2016. Interest 11% Federal All other 12% Health 30% O True O False Pensions and Income Security 33% National Defense 14% Highways 6.0% State and Local All other 31% Education 33% Health and Public Welfare (includes health and welfare and social services, not disability) 30% (Source: Bureau of Economic Analysis, "Government Current Expenditures by Function," National Income and Product Accounts Tables, www.bea.gov.) True or False: You can validly conclude from these pie charts that local governments do not spend enough on highways.
Given Table 12-5 below, fill in the values for saving. Assume there are no taxes. Table 12-5 National Income $7,500 8,000 8,500 9,000 Consumption $5,400 5,800 6,200 6,600 Use the editor to format your answer Saving
8 Do not Copy paste ans
What is a spending plan? Importance of spending plan?
The withdrawal of income from circular flow of income example saving is known as____ One word
CIENCES QUESTION 1 Study the bar chart regarding the National Budget's tax revenue and answer the questions that follow: WHERE WILL THE MONEY COME FROM IN 2021/22 AND HOW WILL IT BE SPEND GOVERNMENT SOURCES OF REVENUE 2021/22 Tax R1 365.1milj 72.6% Loans R 482.6milj 25.7% Non-tax income R 32.5milj 1.7% 1 Which revenue contributes the most to the National Budget? Give the percentage. Which revenue contributes the least to the National Budget? Give the percentage. Give ONE example of a income that is not tax. TAX REVENUE, 2 021/22 Personal inseme tax
5. a) The table shows the prices of fruit purchased by the typical college student from 2001 to 2004. What is the amount spent each year on the "basket" of fruit with the quantities shown in column 2? Items Qty. 2001 2002 2003 2004 Amount Spent Price Price Amount Price Amoun Amount Price Spent t Spent Spent Apples Bananas $0.50 $0.20 $0.65 $2.00 10 $0.75 $0.25 $0.70 $0.85 $0.25 $0.90 2.05 $0.88 $0.29 $0.95 12 Grapes Raspberries 1 Total Price Index Inflation 2. 1.9 2.13 Rate b) Construct the price index for a "fruit basket" in each year using 2003 as the base year. c) Compute the inflation rate for fruit prices from 2001 to 2004. Who in an economy is the big winner from inflation and why?

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