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Question 01a: Click on the following link to the Congressional Budget Office (CBO): The Federal Budget in 2010: An Infographic - direct link is: https://www.cbo.gov/publication/56324. Our government'sfiscal year starts October 1st, so the United States federal budget for fiscal year 2019 ran from Octo https://www.cbo.gov/publication/56324 ed on 2019 numbers using the CBO link, what were the two main sources of Revenue in 2019 for the federal government? Question 01b: Using the same CBO link, scroll down a bit further and see the categories of government spending - Outlays! Fill in the following table for 2019. Notice if you hold your mouse cursor over parts of the pie chart / descriptions, further explanation is given. Category Spending in Trillions $ Mandatory or Discretionary Question 01c: I looked to find current information on taxes and spending by the State of Illinois. The following webpage, the Illinois Policy Institute, show pie charts of each. They do have opinions to go with them, so I will not have you answer any questions, but if you are interested, see: . https://www.illinoispolicy.org/39-billion-where-does-illinois-tax-revenue-come-from/ https://www.illinoispolicy.org/tax-day-where-do-illinoisans-state-tax-dollars-go/ Question 02a: Suppose that your state raises its sales tax from 10 percent to 12 percent. That state revenue commissioner forecasts a 20 percent increase in sales tax revenue. Is this plausible? Explain. Question 02b: Suppose that the government wants to discourage smoking and drinking alcohol. Will a tax be more effective in achieving this objective if the demand for these goods is price elastic or if the demand is price inelastic? Hint: you may wish to review the Deadweight Loss and Elasticities diagram on page 5 of your lecture notes! Question 02c: Many state governments use lotteries to raise revenue. If we think of a lottery as a type of tax, is a lottery likely to be progressive or regressive? What data would you need to determine this