The government has a budget surplus if
government outlays are greater than tax revenues.
there is no national debt.
a fiscal stimulus is being used to combat a recession.
tax revenues are greater than outlays.
the budget is balanced.
When government outlays exceed tax receipts, the situation is
called a budget
surplus.
with a negative balance.
debt.
with no balance.
deficit.
The national debt is the amount
by which government tax receipts exceed expenditure in a given
year.
by which...
Algebraically derive the government spending and tax multiplier
for the case in which tax revenues depend on income level. Verbally
explain what you do in each step of the derivation.
please do not copy on Chegg i want another type answer thanks
and please do not write handwriting
To enhance control over both revenues and expenditures,
a government child health care district incorporates its budget in
its accounting system and encumbers all commitments. You have been
asked to assist the district in making the entries to record the
following transactions:
1. Prior to the start of the year, the governing board adopted a
budget in which agency revenues were estimated at $5,600 (all
dollar amounts in this exercise are expressed in thousands) and
expenditures of $5,550 were appropriated...
IV
Suppose the U.S. government began 2016 with no debt. The
expenditures listed below do not include interest on debt.
2016: Spending on goods & services and
transfers $4.5
trillion
tax
receipts
$4 trillion
What is the budget deficit? How much must the Treasury borrow?
2017: Expenditures and tax receipts both increase by 1%
from the year before.
In addition, the debt incurred in 2016 has a 2% interest rate,
which must...
3. Relationship between tax revenues, deadweight loss,
and demandelasticity
The government is considering levying a tax of $100 per unit on
suppliers of either leather jackets or smartphones. The supply
curve for each of these two goods is identical, as you can see on
each of the following graphs. The demand for leather jackets is
shown by DLDL (on the first graph), and the demand for smartphones
is shown by DSDS (on the second graph).
Suppose the government taxes leather...
a) Suppose that a provincial government collects income tax
revenues using a linear income tax schedule. A taxpayer who has a
zero income in a given year receives a $500 as a living allowance
from the government. If a taxpayer who has an annual income of
$30,000 pays $4000 in taxes, what is the marginal tax rate? Draw
the linear income tax schedule on a diagram. Is the tax schedule
regressive? Justify your answer. (2.5 marks)
b) Using a simple...
Suppose the government needs to raise funds for its expenditures
by a proportional income tax.
Explain in words why there could be two tax rates (i.e. two
equilibria) that could raise the required funds for the
government.
36) Eric, an employee of sam’s club, earned $ 120000 in 2016. The taxable wage base in 2016 is $ 118500 How much FICA tax should Eric pay in 2016? Please answer the following two questions ?
A) $9180
b) $9065.25
c) $9087
d) $8789
37) How much federal unemployment tax should been on behalf of Eric in 2016 ?
A) $7440
B) $434
C) $7200
D) $420