A government budget deficit is financed by a combination of (a) saving rising relative to domestic investment and imports rising relative to exports….
September 3, 2020
Beth is an expected utility maximizing risk-averse individual with the utility function u(w) = w 0.5 and initial wealth of $100. There is a lottery…
September 3, 2020
  • Visit the Fiscal Year 2016 Historical Tables Budget of the US Government.
  • Use the PDF bookmarks to find the tables and sections needed to complete the tasks below.
  • Summarize by performing the following items and answering those questions posed:
  1. Consider revenue Sources. Go to Table 2.2, “Percentage Composition of Receipts by Source.”
  2. What are the main sources of revenues for the federal government?
  3. Before World War II, what was the key source of revenues of the federal government?
  4. What has been the key revenue sources since World War II?
  5. Consider Spending. Examine Table 3.1, “Outlays by Superfunction and Function.”
  6. In a paragraph or two, summarize recent and long-term trends in government spending for the following four functions: National Defense, Health, Income Security and Social Security.
  7. Explain your reasoning for why these trends have been occurring in these areas
  8. Select one other function from Table 3.1 besides those four considered in part 2a.
  9. Explain your chosen function, its importance in the economy and whether it has been capturing growing shares of government spending or has been declining in recent years and why you feel that is the case.
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