2) calc the government budgetary position in 1984 in billons of dollars Table 3-4 Federal Government receipts and expenditures and nominal GDP, billions of dollars.1967197820091082801124381441116Tax ReceiptsOther ReceiptsGovernmentPurchases andSubsidiesGovernmentTransforPaymentsInterestPaymentsNet GovernmentInvestmentNominal GDP92Question 365222986017323479519844103023173971942519991175732501986352399321413554914,4492018195615421121284654144,3392,3529,631Source: Bureau of Economic Analysis Assume the table above represents all federal governmentrevenues and expenditures.20,580Refer to table 3-4. Price level as measured by the CPI was 104 in 1984 and 251 in 2018. Calculatethe value of tax receipts in 1984, adjusted to 2018 dollars. Round to the nearest whole number anddo not enter a 'S' sign.

Consumer Price Index (CPI) is a measure of the average change in prices paid by urban consumers for…

Table 3-4 Federal Government receipts and expenditures and RomSRBI 1967 1978 2009 108 280 1124 38 144 1116 Tax Receipts Other Receipts Government Purchases and Subsidies Government Transfer Payments Interest Payments Net Government Investment Nominal GDP 92 Question 36 52 22 9 860 173 234 79 5 1984 1999 410 1175 302 732 317 397 194 25 501 986 352 -3 993 2141 355 49 DP, DR 2018 1956 1542 1121 2846 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures. 541 Refer to table 3-4. Price level as measured by the CPI was 104 in 1984 and 251 in 2018. Calculate the value of tax receipts in 1984, adjusted to 2018 dollars. Round to the nearest whole number and do not enter a 'S' sign.

Table 3-4 Federal Government receipts and expenditures and RomSRBI 1967 1978 2009 108 280 1124 38 144 1116 Tax Receipts Other Receipts Government Purchases and Subsidies Government Transfer Payments Interest Payments Net Government Investment Nominal GDP 92 Question 36 52 22 9 860 173 234 79 5 1984 1999 410 1175 302 732 317 397 194 25 501 986 352 -3 993 2141 355 49 DP, DR 2018 1956 1542 1121 2846 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures. 541 Refer to table 3-4. Price level as measured by the CPI was 104 in 1984 and 251 in 2018. Calculate the value of tax receipts in 1984, adjusted to 2018 dollars. Round to the nearest whole number and do not enter a 'S' sign.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 19E

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