Answered: Government spending is divided into all…

Government spending is divided into all of the following categories, except: A) welfare spending B) discretionary spending C) mandatory outlays D) interest payments

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Fiscal Policy And The Federal Budget

Section: Chapter Questions

Problem 4QP

See similar textbooks

Related questions

Q: Respond to all parts of the question. In your response, use substantive examples where appropriate.…

A: Answer 1. In the image above, it is given automatic expenditures that are consuming a growing share…

Q: Which types of budget cuts only reduce areas that have overspending? Group of answer choices…

A: Budgets refers to the preparation of the spending plans based on the income. Budgets are prepared by…

Q: True or False: Pensions and income security make up the largest share of federal expenditures.

A: The expenditure of the economy is divided in two parts which are state and central government…

Q: The government raises taxes on cigarettes from $1 per to $2 per pack. Prior to the tax increase, 5…

A: (a) Before increase in tax, the tax rate was t0 = $1 and quantity sold was q0 = 5 million packs The…

Q: Which of the following are included in household consumption expenditures: fees levied (charged) by…

A: Households consumption expenditures includes only the expenses on food, clothing, housing,…

Q: The Laffer curve suggests which of the following? a. the optimal tax rate on labor income is 0% b.…

A: Laffer curve: - Laffer curve is the graphical representation of the relationship of tax rate and the…

Q: Which of the following is a major function of a whip? He/she decides who can speak on the…

A: A whip is an authority of a party whose task is to make sure party discipline during a legislature.…

Q: The PAYGO budget requirement means: a. that only programs generating revenues may be proposed for…

A: A government's budget records the revenue and spending anticipated by the government in the coming…

Q: When government increases a fixed tax, consumption schedule a. shifts downward in a parallel…

A: - A tax rate which is a lump sum tax and is not measured as a percent of the base tax is referred…

Q: A1 In a hypothetical survey about proposed cuts to higher education, suppose that the following…

A: The question can be like this to make it more clear and unbiased.

Q: 23)Which of the following is classified as Fiscal Policy? Select one: a. The federal government…

A: 23.Answer is (a) Tax cut is an example of fiscal policy.To decrease air pollution,federal government…

Q: An economist who favors smaller government would recommend: tax cuts during recession and…

A: Economists, such as classical, favor smaller government as they emphasize the role of the invisible…

Q: Which of the following is NOT counted in the "G" component of spending a. social security payments…

A: Answer- Need to find- Which of the following is NOT counted in the "G" component of spending…

Q: A balanced budget occurs when government a. outlays exceeds tax revenues. b. tax revenues exceeds…

A: Government budget refers to the legal document which is prepared by a political entity or by the…

Q: The largest portion of the federal budget is dedicated to discretionary spending. mandatory…

A: Federal budget: It means the estimate of the government of revenue and spending for each fiscal…

Q: Which statement is an argument against a tax system that encourages savings? that individuals…

A: The statement is that which is an argument against a tax system that encourages savings. The…

Q: What has been the impact of the Supreme Court ruling in Citizens United v. Federal Election…

A: The Supreme Court of the United States is the country's highest court. It is the judicial branch of…

Q: Which of the following is not an automatic stabilizer. Pick a,b,c, or d A) Sales tax B)State…

A: Automatic stabilizer brings the economy back to full employment.

Q: List the three most important expenditure programs of the federal government. How do they differ…

A: The three most important expenditure programs of the federal government are Social Security,…

Q: When the government deliberately alters its level of spending and/or taxes in order to achieve…

A: ‘Fiscal policy’ refers to the use of ‘government revenue collection’ & expenditure to influence…

Q: In the budget presented by the Government, far reaching tax rebates are provided to all classes of…

A: if the tax reductions have changed the consumption patterns it means that the goods are elastic.

Q: Determine whether the following government actions are discretionary or nondiscretionary spending.…

A: Discretionary fiscal policy is a policy action aimed at stabilizing the business cycle. Non…

Q: Consider an economy in which an individual (A) is consuming two goods (X and Y). The government is…

A: Consumption: It refers to the process in which a consumer spends money on goods and services so that…

Q: Which of the following statements illustrate a regressive tax? Tom gets a new job and his income…

A: A regressive tax is mainly applied in a manner that the tax rate decreases as the total taxable…

Q: Elaborate the objective of 'allocation of resources' in the government budget.

A: A statement that shows the itemwise estimated receipts and expenses of the country during a fiscal…

Q: Which of the following programs are often funded by the payroll tax? Check all that apply. A.…

A: Introduction: Payroll tax is the tax that is withheld, assessed, or imposed on an employer's…

Q: Which of the following is NOT counted in the "G" component of spending Group of answer choices the…

A: Gross Domestic Product(GDP) includes Consumption, Investment, Government Expenditure, Net Exports.…

Q: Which of the following statements is (are) correct? (x) One of the largest categories of federal…

A: Government budget is defined as a legal document which is prepared by the government or any other…

Q: Choose... Choose.. Decrease in government expenditure Increase government expenditure Decrease in…

A: Fiscal policy involves the use of tax and government spending to influence the economy. Autonomous…

Q: The government raises taxes on cigarettes from $1 per to $2 per pack. Prior to the tax increase, 5…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: spending is the part of the budget that works its way through Congress each year and includes…

A: Governments, organizations, and people all use budgets to estimate income and spending for a certain…

Q: he Laffer curve suggests A.there is some maximum amount of tax revenue that the government can…

A: LC is a theory formulated by the economist Arthur Laffer. The LC denotes the relation between the…

Q: The government imposes a lump sum tax. What happens to the budget line? (Select all that apply). The…

A: Budget Line is the locus of different combinations of two goods that a consumer can purchase with…

Q: Which of the following government spending categories falls into the discretionary category SNAP…

A: Discretionary spending of a government covers programs and policies which require appropriations by…

Q: Reagan campaigned for a phased 30 percent tax cut within the next three years in officeMost of the…

A: Answer- "True"

Q: The information in many of the tables in this chapter can be found in the Economic Report of the…

A: 1.1. Government revenue has increased over a period of time. This growth is mainly because of the…

Q: When the Federal government takes action to change taxes and spending to stimulate the economy such…

A: Federal government can increase or decrease taxes and government spending to change the money supply…

Q: For the U.S. government, which of the given is NOT an example of discretionary spending? defense…

A: Answer is Medicare. Medicare spending is not an example of discretionary spending and it does not…

Q: The tax system is used to reduce income inequality through the use of _____ taxes. Select one: a.…

A: Tax is the amount that is charged by the government from an individual or an organization on their…

Q: The following levels of government determine a budget each year to show how much revenue the…

A: A budget refers to a calculation of income and expenses over a defined future period of time and is…

Q: According to the U.S. Office of Management and Budget, the 2011 budget for defense exceeded the…

A: The budget of a government shows that how the revenue of the government will be used in various…

Q: Gokhale and Smetters (2003) found that the long-run fiscal imbalance in the U.S. government budget…

A: Gokhale and smettersbth economist of America researched on fiscal imbalance of America.In 2003,they…

Question

Government spending is divided into all of the following categories, except:

A) welfare spending

B) discretionary spending

C) mandatory outlays

D) interest payments

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Government Spending

VIEW

Multiple Choice Answer

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Consider by $150. The average citizen there spends 90% of each additional dollar of income earned. a government that raises taxes Calculate the total change in income (Y) that will result. Carefully follow all numeric directions. Use a negative number to indicate a decrease in Y and a positive number to indicate an increase.
What are the effects of a tax cut on consumption and savings in the presence of credit market imperfections? Does the Ricardian equivalence hold? and savings With a current tax cut, consumption presence of credit market imperfections. The Ricardian equivalence hold in the
Most of the government's mandatory spending is used on which of the following? A) social security B) income security C) medicaid D) veteran's benefits
Define income tax.
Suppose a person earns $500 a month. A social assistance program with a grant amount of $1,000 a month and a clawback of 90% is implemented. What would be the payment the person receives from the program and what's the total amount of money they person will have to their disposal? The payment from the assistance program is $450 and the total amount of money the person has to their disposal is $950. The payment from the assistance program is $550 and the total amount of money the person has to their disposal is $1000. The payment from the assistance program is $550 and the total amount of money the person has to their disposal is $1050. The payment from the assistance program is $950 and the total amount of money the person has to their disposal is $1450.
Question 2 Suppose a person earns $500 a month. A social assistance program with a grant amount of $1,000 a month and a clawback of 90% is implemented. What would be the payment the person receives from the program and what's the total amount of money they person will have to their disposal? The payment from the assistance program is $450 and the total amount of money the person has to their disposal is $950. The payment from the assistance program is $550 and the total amount of money the person has to their disposal is $1000. The payment from the assistance program is $550 and the total amount of money the person has to their disposal is $1050. The payment from the assistance program is $950 and the total amount of money the person has to their disposal is $1450. Question 3 Suppose a person earns $1200 a month and welfare assistance program pays a maximum grant of $1000 and has a clawback of 25%. Is the person eligible for the program and if so what's the person's payment from the…
consumer spending (concept)
Which tax is the largest source of tax revenue in the United States? personal income taxes social insurance taxes corporate profit taxes value added taxes national sales taxes
I need the other side of the chart for regressive tax
The calculation used by social security to calculate retirement benefits is meant to replace ______________ preretirement income for low-income retirees than high-income retirees.
Which of the following government spending categories falls into the discretionary category SNAP payments (suuplemental nutrition assistance program, colloquially known as food stamps) medicaid payments O salaries of employees of the Bureau for Economic Analysis O social security payments
You decide to work part-time at a local clothing store. The job pays $8.50 per hour and you work 16 hours per week. Your employer withholds 10% of your gross pay for federal taxes, 5.65% for FICA taxes, and 4% for state taxes. What is your weekly gross pay? How much is withheld per week for federal taxes? How much is withheld per week for FICA taxes?