Use the table to answer three questions. Budget Total (in Billions of Dollars) Revenues 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2,775 3,022 3,250 3,268 3,316 3,329 3,462 3,296 3,455 3,507 3,689 3,853 3,981 4,108 4,446 6,606 -680 -485 -439 -585 -665 -779 -984 -3,310 2,407 2,568 2,524 2,105 2,162 2,303 2,450 Outlays 2,655 2,729 2,983 3,518 3,456 3,603 3,537 Surplus (deficit) -248 -161 -459 -1,413 -1,294 -1,300 -1,087 From 2016 to 2020 by how much did each of the following change? Instructions: Enter your responses as a whole number.

Use the table to answer three questions. Budget Total (in Billions of Dollars) Revenues 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2,775 3,022 3,250 3,268 3,316 3,329 3,462 3,296 3,455 3,507 3,689 3,853 3,981 4,108 4,446 6,606 -680 -485 -439 -585 -665 -779 -984 -3,310 2,407 2,568 2,524 2,105 2,162 2,303 2,450 Outlays 2,655 2,729 2,983 3,518 3,456 3,603 3,537 Surplus (deficit) -248 -161 -459 -1,413 -1,294 -1,300 -1,087 From 2016 to 2020 by how much did each of the following change? Instructions: Enter your responses as a whole number.

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 1SCQ: When governments run budget deficits, how do they make up the differences between tax revenue and...

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Text Problem 14-2 Question Help v Suppose that the Office of Management and Budget provides the accompanying estimates of federal budget receipts, federal budget spending, and GDP, all expressed in billions of dollars. Calculate the implied estimates of the federal budget deficit as a percentage of GDP for each year. (Enter each response as a percentage rounded to one decimal place. Do not include a plus or minus sign.) Federal Budget Receipts (2% growth) $2,329.8 Federal GDP Deficit as a % Budget Spending (5% growth) $2,682.6 Year (3% growth) $14,573.2 of GDP 2019 2020 2,376.4 2,816.7 15,010.4 % 2021 2,423.9 2,957.6 15.460.7 2022 2,472.4 3,105.4 15.924.5