A balanced budget occurs when government a. outlays exceeds tax revenues. b. tax revenues exceeds outlays. c. tax revenues equals outlays. d. expenditure is zero.
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- Most economists argue that we should not strive to balance the budget on an annual basis and prefer to look at the structural budget. Some point out Hoover’s tax folly to emphasize their point. Explain what they are talking about.C= C0+cYd. Investment, government spending, taxes and transfer payment is autonomous. Autonomous taxes and government spending increase in the same amount. How do government budget and equilibrium income change?Define government budget in not more than 3 lines
- Which of the following statements about state budget is wrong? a. Budget may be annual or biennial b. About half of the states have dual budget system - operating budget and capital budget c. Most operate under the balanced budget requirement d. All governors have item veto power9. If your_______rises as you make _________income, your taxes are progressive.total taxes, lessoutlook on life, moretax rate, morein a government budget, revenue deficit is $50,000 and borrowing are $75000. How much is the fiscal deficit.
- 2) calc the government budgetary position in 1984 in billons of dollarsDo you agree or disagree with this statement: “It isin the best interest of our economy for Congress and thePresident to run a balanced budget each year.” Explainyour answerFiscal policy is spending and taxation of the executive branch of the federal government; in recessionary times, what initiatives in spending and or taxation are going to help the economy?
- 1. Suppose a closed economy hasnational income of $50 million,Investment of $2 million,Inflation rate of 5%, net tax rateof 15% and a budget surplus of$4 million. Find value of government purchases (G).Give typing answer with explanation and conclusion Explain why a $1 increase in government spending leads to more than a $1 increase in GDP.What are the major functions of a government budget? Discuss “revenue” and “development” budgets mentioning the sources of finance of these two. Give a critical analysis of our budget of financial year 2020-21.
