Suppose you have the following data on projected and actual figures for the U.S. budget for 2001 (in billions of dollars): $$\begin{array} { | c | c | c | }
\hline & \text { Projected budget } & \text { Actual budget } \
\hline \text { Taxes } & 1,813 & 1,875 \
\hline \text { Expenditures } & 1,922 & 1,890 \
\hline
\end{array}$$ (A) What was the prajected bucest deficit? What was the actual buceget deficit? Why thid this happen?
(B) If the gaverment debt was $\$ 3,530$ billion at the end af 2000, what was the debt at the end of 2001?
(C) If GDP was \$9,500 billion in 2001, what was the debt to GDP ratid? Haw does this compare to $1992 ^ { \prime } s$ debt to GDP ratio?

Question

Suppose you have the following data on projected and actual figures for the U.S. budget for 2001 (in billions of dollars): $$\begin{array} { | c | c | c | } 
\hline & \text { Projected budget } & \text { Actual budget } \
\hline \text { Taxes } & 1,813 & 1,875 \
\hline \text { Expenditures } & 1,922 & 1,890 \
\hline
\end{array}$$ (A) What was the prajected bucest deficit? What was the actual buceget deficit? Why thid this happen?
(B) If the gaverment debt was $\$ 3,530$ billion at the end af 2000, what was the debt at the end of 2001?
(C) If GDP was \$9,500 billion in 2001, what was the debt to GDP ratid? Haw does this compare to $1992 ^ { \prime } s$ debt to GDP ratio?

Quizplus · Accepted Answer

The Answer of Suppose you have the following data on projected and actual figures for the U.S. budget for 2001 (in billions of dollars): $$\begin{array} { | c | c | c | } 
\hline & \text { Projected budget } & \text { Actual budget } \
\hline \text { Taxes } & 1,813 & 1,875 \
\hline \text { Expenditures } & 1,922 & 1,890 \
\hline
\end{array}$$ (A) What was the prajected bucest deficit? What was the actual buceget deficit? Why thid this happen?
(B) If the gaverment debt was $\$ 3,530$ billion at the end af 2000, what was the debt at the end of 2001?
(C) If GDP was \$9,500 billion in 2001, what was the debt to GDP ratid? Haw does this compare to $1992 ^ { \prime } s$ debt to GDP ratio?

Suppose You Have the Following Data on Projected and Actual