The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all of the spending grants to other levels of government were spent in Canada on goods and services. Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes 48 18 EI premiums Other revenues 21 Total Revenues 237 a. The projected NTR in this budget plan is $ b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate income taxes is e. The percentage of total outlays made up by transfer payments to persons is f. The percentage of total outlays made up by public debt charges is %. $120 28 2 Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus billion. %. %. billion. %. $38 44 26 80 188 49

The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity, assume that all of the spending grants to other levels of government were spent in Canada on goods and services. Federal Government's Budget Plan for Fiscal Year ($billion) OUTLAYS REVENUES Personal income taxes Corporate income taxes Other income taxes GST and excise taxes 48 18 EI premiums Other revenues 21 Total Revenues 237 a. The projected NTR in this budget plan is $ b. The value of NTR less government spending on goods and services (G) is $ Round your answers to 1 decimal place. c. The percentage of total revenue made up by personal income taxes is d. The percentage of total revenue made up by corporate income taxes is e. The percentage of total outlays made up by transfer payments to persons is f. The percentage of total outlays made up by public debt charges is %. $120 28 2 Transfers to persons Spending grants to other levels of government Public debt charges Direct program spending Total Outlays Projected Budget Plan Surplus billion. %. %. billion. %. $38 44 26 80 188 49

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter30: Government Budgets And Fiscal Policy

Section: Chapter Questions

Problem 38CTQ: Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending...

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Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending by the University of Illinois is not fiscal policy? Why is a cut in the payroll tax fiscal policy whereas a cut in a state income tax is not fiscal policy?
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