20211_ECO2013_M6A1-Homework 6

The first table displays Congressional Budget Office forecasts made in January 2015 of future federal budget deficits. Compare these forecasts with actual deficits for those same years (see the second table), and then answer the questions. Year: 2015 2016 2017 2018 2019 2020 Deficit forecast (in billions of dollars) -468-467-489-540-652-739 Fiscal Budget Year Balance = 2015 -439 2016 -585 -86 -76 -53 11 53 2020 -1,074 87 2017-665 2018 -779 Cyclical Component 2019-984 + Structural Component -353 -509 -612 |-790 -1,037 -1,161

Connect Problem CP 33-11 (algo) Suppose the fictitious country of Islandia begins fiscal year 1 with no public debt. Tax revenues and government expenditures for the next five years are shown in the table below. Instructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 1 decimal place. Enter a positive number for a surplus and a negative number (-) for a deficit. a. Calculate the deficit or surplus for each fiscal year and record it in the table below. Year 1 2 3 4 5 billion Tax Revenues, Billions $ 114 119 118 119 121 percent Government Expenditures, Billions $115 121 124 123 119 b. At the end of fiscal year 5, what is the total public surplus or debt? $ Surplus or Deficit, Billions -1 -2 -6 4 2 c. Suppose GDP is $235 billion. What percent of GDP does the public debt represent?

Government Spending, Taxes, and Fiscal Policy-End of Chapter Problem The president has just signed a new budget that drastically cuts taxes without decreasing government spending. When asked how he plans to address the dramatic increase in deficits that will occur due to the tax cuts, the president responds, "We're going to see some amazing economic growth because of this new policy, so much growth that we're going to grow our way out of any short-term increases to government debt." If this extra economic growth doesn't materialize, what are some of the risks to the U.S. economy? Interest payments on the federal debt will consume a larger portion of the federal budget, potentially displacing other government priorities. Higher government debt may make future borrowing more difficult. It gives foreign creditors substantial control over U.S. economic policy. It places an unsupportable burden on future generations.

Question: What is "Fiscal Policy"? Is the fact that the Federal Reserve is raising interest rates a part of Fiscal Policy? Please select the BEST answer choices from the options provided.   A) Yes, when the Federal Reserve increases interest rates the Fed is using fiscal policy to address an economic problem. B) Fiscal policy has to do with the Federal Budget - federal spending and revenue. When the Federal Reserve increases interest rates, the higher interest rates make it more expensive for both public and private entities to borrow and spend. Therefore, spending, both government and private, will decrease. This is why, when the Federal Reserve raises interest rates it is "fiscal policy." C) Yes, fiscal policy has to do with the budget and interest rates. Any action by the Federal Reserve regarding interest rates will be fiscal policy. D) Fiscal Policy is the use of government spending and taxes to deal with the economy's problems such as slow growth, high…

For fiscal year 2006, the national debt of a country was approximately (8.302 x 1012) dollars. At that time, the number of citizens between the ages of 18 and 65 was known to be (3.5 x 10). If the national debt of this country were divided evenly among these citizens, about how much debt would be assigned to each individual? (Enter your answer in standard form, rounded to two decimal places.) per person Tutorial O Show My Work (Optional) ? Submit Answer

DEADWEIGHT LOSS (Dollars) TAX REVENUE (Dollars) Now calculate the government's tax revenue if it sets a tax of $0, $20, $40, $50, $60, $80, or $100 per bottle. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax Wedge equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 1250 1120 1000 875 750 625 500 375 125 D 0 10 30 40 GO 60 80 TAX (Dollars per bottle) Laffer Curve Suppose the government is currently imposing an $80-per-bottle tax on vodka. True or False: The government can raise its tax revenue by decreasing the per-unit tax on vodka. True False Consider the deadweight loss generated in each of the following cases: no tax, a tax of $40 per bottle, and a tax of $80 per battle. On…

Q)Some economists believe that the budget deficit is incapable of measuring the impact of fiscal policy on today’s economy or the burden being placed on future generations of taxpayers. Please explain the four problems with the usual measurement of the budget deficit. I would appreciate it if you could write the answer to the question clearly and clearly. I would also like to state that I will give bad marks to questions that are incomplete. I will give the score as soon as the answer to the question comes. Also, I'd appreciate it if you could write it legibly.

Text Problem 14-2 Question Help v Suppose that the Office of Management and Budget provides the accompanying estimates of federal budget receipts, federal budget spending, and GDP, all expressed in billions of dollars. Calculate the implied estimates of the federal budget deficit as a percentage of GDP for each year. (Enter each response as a percentage rounded to one decimal place. Do not include a plus or minus sign.) Federal Budget Receipts (2% growth) $2,329.8 Federal GDP Deficit as a % Budget Spending (5% growth) $2,682.6 Year (3% growth) $14,573.2 of GDP 2019 2020 2,376.4 2,816.7 15,010.4 % 2021 2,423.9 2,957.6 15.460.7 2022 2,472.4 3,105.4 15.924.5

Question: Counter-cyclical fiscal policy involves: A) Keeping government spending and taxes constant over the business cycle B) Increasing government spending and cutting taxes during a downturn, and reducing spending/increasing taxes during a boom C) Always increasing government spending regardless of the economic condition D) Focusing on long-term structural reforms without immediate economic stimulus' Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Question Assume a government has $28,667 in tax revenues and $40,094 in total government spending. What is the value of the annual budget balance? Please round to 2 decimal places if needed. Be sure to include a negative sign (-) if it is a decrease and do not include a dollar sign ($) when answering.

Question 11/28 NEXT A BOOKMARK 11 The federal government's use of taxation and spending policies to stabilize the economy is APhysical policy B Fiscal policy C Trade policy D Foreign Policy DELL -> Ce esc $ & 7 8.

Question 5 Which of the following BEST shows fiscal policy? The Federal Reserve buys bonds. The United States increases trade with China. Oc The Central Bank decides to print more money. Congress passes a decrease in taxes. ©2021 Illuminate Educatin

Answer the following questions on fiscal policy: (a) According to data from the Office of National Statistics, in January 2022 the UK public sector spent less than it received in taxes resulting in a primary surplus. Considering that the UK government was previously running a deficit, and assuming that UK GDP growth is higher than the real interest rate paid on the debt, use a phase line to show how the surplus may affect debt accumulation in the UK. (100 words excluding the graph) (b) In the Financial Times article “UK public finances vulnerable to higher inflation, says Sunak” (2 March 2022), we read: “Rishi Sunak[*] warned that the UK economy and public finances were “vulnerable” to higher inflation and interest rates in comments ahead of the spring statement suggesting that tough decisions could be required in the months ahead.” “The [Treasury] committee expressed concern that the government had contributed to the UK’s high rate of inflation which hit by 5.5 per cent in January…

Changing Budget Priorities) What spending category claimed the largest share of federal outlays during the 1960s? How about during the most recent decade?

Now calculate the government's tax revenue if it sets a tax of $0, $20, $40, $50, $60, $80, or $100 per bottle. (Hint: To find the equilibrium quantity after the tax, adjust the "Quantity" field until the Tax equals the value of the per-unit tax.) Using the data you generate, plot a Laffer curve by using the green points (triangle symbol) to plot total tax revenue at each of those tax levels. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. TAX REVENUE (Dollars) 4000 3600 3200 2800 2400 2000 1600 1200 800 400 0 0 10 20 True 30 40 50 60 70 TAX (Dollars per bottle) False 80 + 90 100 pose the government is currently imposing a $60-per-bottle tax on gin. Laffer Curve True or False: The government can raise its tax revenue by increasing the per-unit tax on gin. ?

This questions has been rejected because they said it is a writing question but is not becasue this question is from chapter 11 question 19 from the book Boyes and Melvin 10th edition and it is a macroeconomic question. Also, this site has an answer but I need something more specific directing its answer to each question and the graph 1. Make a graph showing the spending and tax revenue of your satate government for as many years as you can find (use the government of your home country if you are not from the United States). a.What trends do you notice? b. What spending categories make up the largest share of the state budget? c. What are the largest sources of revenue?

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

Write a brief summary of the policies that have been implemented to facilitate economic recovery. You can document the policies adopted by the USA. should be broken into two parts: Fiscal Policy Monetary Policy In both cases, should be no more than 3 paragraphs and: Outline the policies Summarize any observed results.

Short answer question (1) Define fiscal deficit

Question: State the macroeconomic effects of budget deficit

D4) country’s GDP growth rate is 6%, the interest rate on its debt (all local currency) is 8%, and its debt-to-GDP ratio is 95%. What does the country have to do to keep its debt-to-GDP ratio below 100%? Group of answer choices Keep its primary deficit below 8.05% of GDP Run a primary surplus of 8.05% of GDP. Bring its primary deficit down to zero. Raise its GDP growth rate to 8%.

Question: "In a hypothetical economy, the government implements a fiscal stimulus package by increasing public spending on infrastructure projects. At the same time, there is a significant rise in consumer savings rates. Discuss the potential short-term and long- term impacts of these simultaneous events on the economy's aggregate demand, interest rates, and inflation. Consider how these changes might affect the effectiveness of the fiscal stimulus in achieving its intended economic objectives."

Question 16 A deficit during a period of economic prosperity is called a deficit.

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2*************************   2)Compare the fiscal condition of the United States with that of Germany. a)What fiscal issues or challenges do both countries have in common? b)What major area of fiscal policy is different when comparing the US with Germany?

Graph the answer Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Some economists believe that the budget deficit is incapable of measuring the impact of fiscal policy on today’s economy or the burden being placed on future generations of taxpayers. Please explain the four problems with the usual measurement of the budget deficit. I would appreciate it if you could write the answer to the question clearly and clearly. I would also like to state that I will give bad marks to questions that are incomplete. I will give the score as soon as the answer to the question comes. Also, I'd appreciate it if you could write it legibly.

38. Federal fiscal year runs from Group of answer choices July 1, 2014 – June 30, 2015 Oct 1, 2014- Sept 30, 2015 Apr 1, 2014 – Mar 31, 2015 Jan 1, 2014 - Dec 31, 2014

Question: Expansionary fiscal policy is characterized by: A) Increased government spending and/or lower taxes B) Decreased government spending and/or higher taxes C) Stable government spending and constant tax rates D) Unchanged government spending but reduced tax rates

Problem 12-09 (algo) The CARES Act of 2020 increased disposable income by $600 billion. If consumers spent $430 billion of those income transfers immediately, Instructions: In part a, round your response to two decimal places. In part b, round your response to the nearest whole number. a. what was the MPC? b. how much stimulus would those income transfers ultimately provide?

six (6) strategies that the Minister of Finance could implement to reduce the consequences of the recession on the labour market in South Africa.