ncesProblem 12-01 (Algo)Use the table to answer three questions.Budget Total (inBillions of2006 2007 200820092010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Dollars)RevenuesOutlays2,407 2,568 2,5242,655 2,729 2,983Surplus (deficit) -248- -161 -4592,1053,518-1,4132,162 2,303 2,450 2,775 3,022 3,250 3,268 3,316 3,329 3,462 3,2963,456 3,603 3,537 3,455-1,294 -1,300 -1,087 -6803,507 3,689 3,853 3,981 4,108 4,446 6,606-485 -439 -585 -665 -779 -984 -3,310From 2008 to 2016 by how much did each of the following change?Instructions: Enter your responses as a whole number. If you are entering any negativenumbers be sure to include a negative sign (-) in front of those numbersa. Tax revenuesb. Government spending (outlays)c. Budget deficitbillionbillionbillion

A budget deficit occurs when a government's expenditures exceed its revenues during a specific…

Problem 12-01 (Algo) Use the table to answer three questions. Budget Total (In Billions of 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dollars) Revenues Outlays Surplus (deficit) 2,407 2,568 2,524 2,655 2,729 2,983 -248 -161 -459 2,105 3,518 -1,413 2,162 2,303 2,450 2,775 3,456 3,603 3,537 3,455 -1,294 -1,300 -1,087 -680 3,022 3,250 3,268 3,316 3,329 3,462 3,296 3,507 3,689 3,853 3,981 4,108 4,446 6,606 -485 -439 -585 -665 -779 -984 -3,310 es From 2008 to 2016 by how much did each of the following change? Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers a. Tax revenues b. Government spending (outlays) c. Budget deficit billion billion billion

Problem 12-01 (Algo) Use the table to answer three questions. Budget Total (In Billions of 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dollars) Revenues Outlays Surplus (deficit) 2,407 2,568 2,524 2,655 2,729 2,983 -248 -161 -459 2,105 3,518 -1,413 2,162 2,303 2,450 2,775 3,456 3,603 3,537 3,455 -1,294 -1,300 -1,087 -680 3,022 3,250 3,268 3,316 3,329 3,462 3,296 3,507 3,689 3,853 3,981 4,108 4,446 6,606 -485 -439 -585 -665 -779 -984 -3,310 es From 2008 to 2016 by how much did each of the following change? Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers a. Tax revenues b. Government spending (outlays) c. Budget deficit billion billion billion

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 20RQ: Give some examples of changes in federal spending and taxes by the government that would be fiscal...

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