Using the figures provided in Table 2, calculate the national debt as a percentage of GDP for2008.10.14%59.86%68.48%$28,333$47,333Table 2: Macroeconomic Summary20082009GROSS DOMESTIC PRODUCT$14,200,000,000,000$13,800,000,000,000EMPLOYEDBUDGET SURPLUS/DEFICITNATIONAL DEBTPOPULATIONPOTENTIAL LABOR FORCELABOR FORCEUNEMPLOYED$450,000,000,000$1,400,000,000,000$8,500,000,000,000$9,450,000,000,000300,000,000305,000,000250,000,000255,000,000157,000,000154,500,000148,000,000140,000,0009,000,00014,500,000

National debt as a percentage of GDP represents the total amount of money a country owes, including…

Answered: Using the figures provided in Table 2,…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 2.10P

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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 1/1/2012
What are some of the ways fiscal policy might encourage economic growth?
Under what general macroeconomic circumstances might a government use expansionary fiscal policy? When might it use contractionary fiscal policy?
What would happen if expansionary fiscal policy was implemented in a recession but, due to lag, did not actually take effect until after the economy was back to potential GDP?
Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?
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?
Complete the table below for the economy of Smetana. Round your answers for the Debt / GDP % to 1 decimal place. Budget Surplus 1 7 Year 2015 2016 2017 2018 2019 2020 8 Budget Deficit 1 14 1 1 National Debt 280 323 310 GOP 700 725 730 720 750 Debt / GDP N 45.0
Analyze the graph below, showing the Gross Federal Debt as a percentage of GDP for the United States (1939-2019). Which of the following is correct? FRED d- Gre ederal Dea Percentof Gr Done Produd 116 2013 Pa S Sor O e Loa fe In 2019, the Federal Government of the United States had an accumulated debt/GDP higher than 100 %, meaning that the amount of debt accumulated over time is higher than the value of all goods and services produced in that year. The debt/GDP is always positive during this period, so the Federal Government of the United States incurred in budget deficits every year since 1939. From the mid-40s until the mid-70s, the debt/DGP was decreasing, meaning that the Federal Government. of the United States was running a budget surplus every year during those three decades. During the second half of the 1970s, the Federal Government of the United States was able to keep a balanced budget and, as a result, the debt/GDP was close to zero.
learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com Bb https://.. a SD Bb Bb Bb 1. From the time of George Washington's presidency to the present, the percentage of the average American's income that goes to pay taxes A. has decreased from about 20 percent to about 10 percent. has decreased from about 50 percent to about 25 percent. C. has remained constant at about 10 percent. D. has risen from less than 2 percent to above 45 percent. Е. В. has risen from less than 5 percent to above 25 percent. 2. According to the textbook, which of the following statements is (are) correct for the United States? (x) The individual income tax and the payroll tax are the two largest sources of revenue for the U.S. federal government. (y) Corporate income taxes and excise taxes make up more than 30 percent of the tax revenue for the U.S. federal government. (z) In general, the two most important taxes for state and local governments in the U.S are sales taxes and property taxes. А. (x), (y)…
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
The figure shows government expenditure and revenue as a percentage of GDP, 1990-2019. During which of the following periods did the federal government run a budget surplus? 27.0% 25.0% -Expenditures 23.0% 21.0% 19.0% Receipts 17.0% 15.0% YEAR O 1998-2001 None of these answers is correct. O 2003-2008 2012-2018 PERCENT OF GDP 0661 1991 1993 1994 9661 2661 6661 0007 2002 2003 2005 9007 2008 6007 2011 2012 2014 2015 2017 2018
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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