Instructions: Enter your responses as a percentage rounded to one decimal place. a. Calculate the federal government's share of total output in 1998, 2008, and 2018. 1998: 2008: 2018: 1998: 2008: percent b. Calculate the state and local government's share of total output in 1998, 2008, and 2018. 2018: percent percent percent percent percent
Instructions: Enter your responses as a percentage rounded to one decimal place. a. Calculate the federal government's share of total output in 1998, 2008, and 2018. 1998: 2008: 2018: 1998: 2008: percent b. Calculate the state and local government's share of total output in 1998, 2008, and 2018. 2018: percent percent percent percent percent
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Instructions: Enter your responses as a percentage rounded to one decimal place.
a. Calculate the federal government's share of total output in 1998, 2008, and 2018.
1998:
percent
2008:
2018:
1998:
b. Calculate the state and local government's share of total output in 1998, 2008, and 2018.
percent
2008:
percent
2018:
percent
percent
percent
Transcribed Image Text:Use the data below to answer the questions.
Year
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
GDP
$5,803
5,995
6,337
6,657
7,072
7,397
7,816
8,304
8,747
9,268
9,817
10,128
10,469
10,960
11,685
12,422
13,178
13,808
14,291
13,939
14,527
15,518
16,163
16,768
17,393
18,037
18,754
19,543
20,612
21,433
Total
Government
Spending
(billions)
$1,180
1,234
1,271
1,291
1,325
1,369
1,416
1,468
1,518
1,620
1,721
1,825
1,961
2,092
2,217
2,355
2,508
2,675
2,878
2,918
3,000
3,169
3,169
3,143
3,152
3,218
3,299
3,407
3,595
3,748
Federal
Spending
(billions)
$508
527
533
525
519
519
527
530
530
555
578
612
679
756
826
876
932
979
1,080
1,143
1,223
1,304
1,291
1,232
1,219
1,225
1,235
1,264
1,339
1,419
State and Local
Spending
(billions)
$671
706
737
766
806
850
888
937
987
1,065
1,142
1,212
1,281
1,336
1,391
1,480
1,576
1,696
1,798
1,775
1,780
1,865
1,878
1,912
1,933
1,993
2,065
2,143
2,256
2,329
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