Federal sources of revenue and outlays are shown in Figure 10.3
What will be an ideal response?
for fiscal year (FY) 2011*. The major sources of federal revenue are personal income and Social Security taxes. In FY 2011, the federal government also borrowed an amount equal to 36 percent of the total budget. Government borrowing varies from year to year, but deficits are more common than surpluses. The major categories of government spending are Social Security, defense spending, and social programs
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For resources with upward-sloping supply curves:
a. earnings consist solely of economic rent. b. earnings consist of both transfer earnings and economic rent. c. earnings are called transfer earnings. d. earnings are called dividends. e. earnings consist entirely of interest payments.
The price index was 136 in one year and 142 in the next year. What was the inflation rate between the two years?
a. 1.04 percent b. 4.41 percent c. 6.00 percent d. 42.00 percent
Refer to Figure 1A.2. The slope of the curve
A) is positive. B) is negative. C) is zero. D) changes along the curve.
In the figure above, an increase in the quantity of oil supplied but NOT an increase in the supply of oil is shown by a movement from
A) point a to point e. B) point a to point b. C) point a to point c. D) point a to point d.