5 Use the info to answer this question:CBO Projections2021202320252027Federal Govt. Debt (% of GDP)104.4106.7107.2106.3Growth Rate of Real GDP (%)1.82.22.42.4Federal Expenditures (% of GDP)24.122.222.022.1Federal Revenues (% of GDP)15.517.317.318.1(options: exceed or fallshort of) federal revenues over the next six years, implying that the(options: decrease or increase)A. The CBO assumes federal spending willfederal debt will continue toB. The CBO projects that economic growth will,(options: speed up orslow down) with federal spending growing (options: more slowly orfaster) than federal revenues over the next six years.c. If the United States experiences a productivity slowdown, federalrevenues will likely be lower than projected, and expenditures will be|(options: lower or higher) than projected, furtherdecreasing or increasing) the burden of the federal debt(options:

From the projection of CBO, it is possible to understand the trends in government debt, growth,…

(options: exceed or fall short of) federal revenues over the next six years, implying that the (options: decrease or increase) The CBO assumes federal spending will federal debt will continue to The CBO projects that economic growth will (options: speed up or slow down) with federal spending growing (options: more slowly or faster) than federal revenues over the next six years.

(options: exceed or fall short of) federal revenues over the next six years, implying that the (options: decrease or increase) The CBO assumes federal spending will federal debt will continue to The CBO projects that economic growth will (options: speed up or slow down) with federal spending growing (options: more slowly or faster) than federal revenues over the next six years.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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