i) Calculate total government expenditures.ii)Calculate total government spending.iii)Is the government running a surplus, deficit, or a balanced budget? Billions ofDollars290ItemsConsumption of goods and servicesCorporate Income taxesCorporate retained earningsDepreciation allowancesCorporate DividendsExportsGovernment expenditure on goods and servicesImportsIndirect taxes net of subsidiesInterest on government debtInterest paid by producersGross Fixed Investment including DepreciationNet income from abroadNet Transfer payments of governmentNon-cash Labour incomeNon-corporate profitsPersonal income taxesRentSelf employment labour incomeTotal earned Labour income excluding selfemployment labour incomeVariation in the stock of inventories15740181801101603014880-5307612852050300

Government expenditure and spending are one and the same thing. Government expenditure = Government…

Answered: i) Calculate total government…

i) Calculate total government expenditures. ii)Calculate total government spending. iii)Is the government running a surplus, deficit, or a balanced budget?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter16: The Public Sector

Section16.4: Public Choice Theory

Problem 1YTE

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Question

i) Calculate total government expenditures.

ii)Calculate total government spending.

iii)Is the government running a surplus, deficit, or a balanced budget?

Billions of
Dollars
290
Items
Consumption of goods and services
Corporate Income taxes
Corporate retained earnings
Depreciation allowances
Corporate Dividends
Exports
Government expenditure on goods and services
Imports
Indirect taxes net of subsidies
Interest on government debt
Interest paid by producers
Gross Fixed Investment including Depreciation
Net income from abroad
Net Transfer payments of government
Non-cash Labour income
Non-corporate profits
Personal income taxes
Rent
Self employment labour income
Total earned Labour income excluding self
employment labour income
Variation in the stock of inventories
15
7
40
18
180
110
160
30
14
8
80
-5
30
76
12
85
20
50
300

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