Question 9, please.
How to solve it step by step?
Absolute change? Inflation Rate? Etc Etc
thank youuu
Introduction CHAPTER 1 15 $3.127 trillion to $4.218 trillion. From 2007 to 2011, the US federal government increased de- fense spending from $551.3 billion to $705.6 bil- lion, while over the same period Gross Domestic Product rose from $14.029 trillion to $15.088 trillion. Which increase in defense spending was larger relative to Gross Domestic Product? 8. The following tables show the composition of UK government expenditure and other macro- economic indicators in 1997, 2001, 2007, and 2011. a. For the years 1997 to 2001 and 2007 to 2011. calculate the absolute change in expenditure, the change in expenditure in real (i.e., infla- tion-adjusted) terms, and the change in real government expenditure per capita. b. Which components of the budget had the largest relative increases from 1997 to 2001 and from 2007 to 2011? Which had the larg- est relative decreases? 1997 2011 Taxes on production and imports Current taxes on income, wealth, etc. Capital taxes Social Security contributions Total 106,865 124 536 1,601 55,007 288.009 Taxes in million 2001 2007 132.154 175.466 169.463 231.968 2.395 3.867 70,089 107,688 374 102 518,989 201,364 237 635 2,906 118,031 559.936 1997 2001 2007 2011 Population (thousands) GDP ( min) GOP deflator Source: OECDS 2013 58,314 835,635 77.54 59,113 1,019,838 82.73 60,988 1.412,119 95.79 62.735 1,515,828 105.17 9. The following table shows the composition of UK tax revenues in 1997, 2001, 2007 and 2011. a. Using the information provided in Question 8. for the periods 1997 to 2001 and 2007 to 2011, calculate the absolute change in tax revenues, the change in tax revenues in real (i.e., inflation-adjusted) terms, and the change in real tax revenues per capita. b. Which components of tax had the largest rela- tive increases from 1997 to 2001 and from 2007 to 2011? Which had the largest relative decreases? 1997 Defense Public order Health Education Social protection Other Total Source OECD 2013 2,300,700 1,729,700 4,481,300 3,824,600 13,000,000 8,008,900 33,626,900 Government expenditures in million 2001 2007 2,341,300 3.249,800 2,314,000 3.545.400 6,080,500 9.964,600 5.370.200 8.653.800 16,000,000 22.000.000 9,465,600 15,000,000 41,034,000 61,711,600 2011 3.774 800 3,884 800 12.000.000 9,872.600 27,000,000 17,000,000 73,644.500 Introduction CHAPTER 1 15 $3.127 trillion to $4.218 trillion. From 2007 to 2011, the US federal government increased de- fense spending from $551.3 billion to $705.6 bil- lion, while over the same period Gross Domestic Product rose from $14.029 trillion to $15.088 trillion. Which increase in defense spending was larger relative to Gross Domestic Product? 8. The following tables show the composition of UK government expenditure and other macro- economic indicators in 1997, 2001, 2007, and 2011. a. For the years 1997 to 2001 and 2007 to 2011. calculate the absolute change in expenditure, the change in expenditure in real (i.e., infla- tion-adjusted) terms, and the change in real government expenditure per capita. b. Which components of the budget had the largest relative increases from 1997 to 2001 and from 2007 to 2011? Which had the larg- est relative decreases? 1997 2011 Taxes on production and imports Current taxes on income, wealth, etc. Capital taxes Social Security contributions Total 106,865 124 536 1,601 55,007 288.009 Taxes in million 2001 2007 132.154 175.466 169.463 231.968 2.395 3.867 70,089 107,688 374 102 518,989 201,364 237 635 2,906 118,031 559.936 1997 2001 2007 2011 Population (thousands) GDP ( min) GOP deflator Source: OECDS 2013 58,314 835,635 77.54 59,113 1,019,838 82.73 60,988 1.412,119 95.79 62.735 1,515,828 105.17 9. The following table shows the composition of UK tax revenues in 1997, 2001, 2007 and 2011. a. Using the information provided in Question 8. for the periods 1997 to 2001 and 2007 to 2011, calculate the absolute change in tax revenues, the change in tax revenues in real (i.e., inflation-adjusted) terms, and the change in real tax revenues per capita. b. Which components of tax had the largest rela- tive increases from 1997 to 2001 and from 2007 to 2011? Which had the largest relative decreases? 1997 Defense Public order Health Education Social protection Other Total Source OECD 2013 2,300,700 1,729,700 4,481,300 3,824,600 13,000,000 8,008,900 33,626,900 Government expenditures in million 2001 2007 2,341,300 3.249,800 2,314,000 3.545.400 6,080,500 9.964,600 5.370.200 8.653.800 16,000,000 22.000.000 9,465,600 15,000,000 41,034,000 61,711,600 2011 3.774 800 3,884 800 12.000.000 9,872.600 27,000,000 17,000,000 73,644.500
