Consider the US budget for the fiscal year that ended on Sept 30 2023. Total government spending for the year was roughly [Select] During the year, the government collected roughly [S This means the government experienced a [Select] [Select] in taxes.
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- Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?What is the main reason for employing expansionary fiscal policy during a recession?Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending by the University of Illinois is not fiscal policy? Why is a cut in the payroll tax fiscal policy whereas a cut in a state income tax is not fiscal policy?
- Currently many forecasters are predicting a recession for this year. What type of fiscal should the government pursue?Define government budget in not more than 3 linesGovernment Spending, Taxes, and Fiscal Policy-End of Chapter Problem A political candidate has written an op-ed piece in which she claims that the U.S. government debt has continually grown and is out of control. She includes the accompanying graph to support her argument. She further argues that the government can't sustain this level of debt by comparing it to an individual who is constantly spending more than she earns, thus racking up large amounts of consumer debt. Gross Government Debt Trillions of Dollars $24 $20 $16 $12 $8 $ $0 1980 1990 2010 2020 2000 Stevenson/Wolfers, Principles of Economics, 1e, 2020 Worth Publishers In what ways might the political candidate's arguments be misleading? Recent research suggests that government debt doesn't matter. Government debt differs from household debt in that the government has ways of handling debt that households lack. The graph depicts gross government debt, whereas what matters is net government debt. The graph depicts the absolute…
- The following diagram shows changes in fiscal policy by the South African government from the beginning of 2008, until the end of 2014. Study it carefully and answer the question which follows. SOUTH AFRICA GOVERNMENT SPENDING 620000 **** 600000 580000 F N E EH A A EE E E 560000 540000 520000 500000 480000 460000 1/1/2008 1/1/2010 1/1/2012Find one article describing at least one instance of the use of Fiscal Policy during that 15 year period. For this assignment you may use Investopedia or Wikipedia for your articles. Those sites do provide good explanations of the use of these tools. You could search for articles describing the 2008 fiscal stimulus, the 2017 tax cuts,or the 2020 COVID fiscal stimulus.Explain the relationship between changes in the economic structure of direct tax revenues!
- Economics Under which condition the fiscal policy has the maximum effect on real national income? Sketch graph and explain your answer.11.1 Due to the pandemic, the federal government announced many measures to help those negatively affected. The budget deficit surged to more than $300 billion. What is the fiscal stance of the federal government's recent budaet policy? Neutral Expansionary Contractionary1. 2. 3. The working-age population in Concordia was estimated to be 6.5 million in a certain year. The country's labor department announced that the total number of unemployed people in the country had gone up to 460,000 during this year while, the total number of people out of the labor force decreased to 2,000,000. Oscar Lewis, a student of labor economics believes that the labor department data is flawed. The government of Concordia adopted expansionary fiscal policies in the last two years with the aim of increasing employment. However, the government has been unable to bring down the unemployment rate in the country. Which of the following, if true, best explains this outcome? OA The government implemented a generous welfare plan 3 years ago to support people who cannot find work. OB. The number of students who enroll for higher education is decreasing every year. Oc. During this period, the country's government reduced the limits on foreign direct investment in key sectors. OD.…