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Consider an economy that has accumulated a public debt of $1250 billion over the period of its history through the end of fiscal year 2004. In fiscal year 2005 government spending outlays were $0.75 trillion, and its tax receipts were $0.5 trillion. In fiscal year 2006, government spending outlays were $1 trillion and its tax receipts were $0.9 trillion. In 2007, government spending outlays were $1.2 trillion, and its tax receipts were $1.25 trillion. In 2008, government spending outlays were $1 trillion and its tax receipts were $1 trillion, and in 2009, government spending outlays were $1.25 trillion and its tax receipts were $1.1 trillion. First, what is the public debt at the end of fiscal year 2008? Second, what is the public debt at the end of fiscal year 2009? Third, what is the budget situation for fiscal year 2006? Fourth, what is the budget situation for fiscal year 2008? Fifth, if this economy is projected to run yearly deficits over the next 10 years that increase by 2% each year starting after fiscal year 2009, what is the public debt going to be at the end of fiscal year 2019. Finally, why is rising public debt bad for an economy, from an economics perspective?
A county is considering building a temporary road to cut travel time during the two years it will take to build a permanent highway. The temporary road can be put up in the beginning of the project at a cost of $900,000. Total maintenance cost of the..
Does the widget production function exhibit constant, increasing or decreasing returns to scale.
What are the assumptions we need to have for our Utility Maximization model (Consumer theory)?
Identify the statement that accurately describes the Sarbanes-Oxley Act. ?
Use critical thinking to analyze the issue using economic concepts and theory learned in our class. Present two policy recommendations based on this issue. Use additional references to back up your arguments. Include at least one graph developed in t..
Donald is a stamp collector. The only things other than stamps that Donald consumes are Harold's doughnuts. It turns out that Donald's preferences are quasilinear, represented by the utility function U(d, s) = lnd + s, where d is the number of doughn..
Explain why net exports and net capital outflow are always equal. Explain why higher real interest rates lead to lower net capital outflow.
Boss Fuzzhead is an engineer by training and says “I know that we can substitute capital for unskilled labor in the production process that our company uses and projections are that capital costs are declining, so those unskilled folks better just be..
A firm produces tables and bookshelves. Each table yields a profit of $9 and the bookshelves yield a profit of $12. Each week the firm has 12 gallons of varnish and 16 lengths of redwood. The table requires 1 gallon of varnish and 1 length of redwood..
In his discussion of post-WWII growth in France, Blanchard describes the effects of destruction of part of a nation's capital stock. Suppose that instead of a decline in the capital stock a country experiences a decline in N resulting from a plague t..
Using a required reserve ratio of 10% and assuming that banks keep no excess reserves, which of the following scenarios produces a larger increase in the money supply, explain why. Someone takes $1000 from under his or her mattress and deposits it in..
q.the table below explain how is the aggregate demand and short-run aggregate provide schedules of a country in which
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