Refer to the data. a 10 percent proportional tax on income would:

Government SpendingTax RevenuesGDP
Year 1$450$425$2,000
Year 25004503,000
Year 36005004,000
Year 46406205,000
Year 56805804,800
Year 66006205,000

The accompanying table gives budgain information for ahypothetical economic climate. Assume that all budget surploffers are supplied topay down the public debt. The general public debt declined in year

6.

You watching: Refer to the data. a 10 percent proportional tax on income would:

5.

4.

3.

QUESTION 2

Government SpendingTax RevenuesGDP
Year 1$800$825$4,000
Year 28508504,200
Year 39008754,350
Year 49509004,500
Year 51,0009254,600

The table has budgain information for a hypotheticaleconomic situation. All information are in billions of dollars. Assume that Year 1 isthe initially year for this economic climate and Year 5 is the current year.What is the public debt in this economy at Year 5?

$25 billion

$75 billion

$125 billion

$925 billion

QUESTION 3

Gross Domestic Product (GDP)Consumption (C)
$100$140
200200
300260
400320
500380

(Modern analysis) The accompanying table is the before-taxusage schedule for a closed economic climate. If a 10 percentproportional taxes on revenue is implemented, the usage schedulewill certainly now be

GDPC
$100$134
200188
300242
400296
500350
GDP
C
$100$144
200212
300278
400344
500410
GDP
C
$100$134
200194
300254
400324
500374
GDP
C
$100$146
200218
300286
400352
500412

QUESTION 4

Interemainder RateInvestment
0%$100
292
478
661
845

Refer to the accompanying investment schedule. Investmentspfinishing is in billions of dollars. When the federal government runs abudgain deficit and also worries even more Treasury securities, crowding outwill certainly occur if

the interemainder price is at 0 percent.

the interemainder rate rises.

the interest price drops.

the interemainder price continues to be high at 8 percent.

QUESTION 5

YearActual Budget Deficit (-) or Surplus (+)Standardized Budget Plan Deficit (-) or Surplus (+)
1999+1.4%+0.1%
2000+2.5+1.1
2001+1.3+1.1
2002-1.5-1.1
2003-3.4-2.7
2004-3.5-2.4
2005-2.6-1.8
2006-1.9-1.8
2007-1.3-1.4

Refer to the data in the table. In which year was the cyclicaldeficit the largest?

2000

1999

2003

2004

QUESTION 6

YearActual Budget Plan, Percent of GDP(-deficits, +surpluses)Cyclically-Adjusted Budget, Percent of GDP(-deficits, +surpluses)
199800
1999-30
2000-5-2
2001-2-2
2002+2+1

Refer to the table for a fictional economic situation. The alters in thebudget problems between 2000 and 2001 finest reflect

demand-pull inflation.

cost-press inflation.

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an growth of actual GDP and also an automatic increase in taxearnings.

a contractionary fiscal plan.

QUESTION 7

*

Refer to the diagram, in which T is taxes profits andG is government expenditures. All numbers are in billions.This diagram portrays the idea of

steady taxes.

built-in stability.

the multiplier.

discretionary fiscal plan.

QUESTION 8

*

Refer to the diagram, wbelow T is taxation revenues andG is government expenditures. All figures are in billionsof dollars. If the full-employment GDP is $400 billion, while theactual GDP is $200 billion, the actual budobtain deficit is

$200 billion.

$20 billion.

$40 billion.

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$60 billion.

QUESTION 9

*

Refer to the diagram, wright here T is taxes profits andG is government expenditures. All figures are in billionsof dollars. If the full-employment and actual GDP are each $400billion, federal government can balance its cyclically adjusted budgetby