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The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars. Year Revenues

The following table lists federal expenditures, revenues, and GDP for the U.S. economy during several years. All numbers are in billions of dollars.

Year

Revenues

Expenditures

GDP

1929 3.9 3.1 103.6
1948 41.6 29.8 269.2
1967 148.8 157.5 832.6
1986 769.2 990.4 4462.8
2005 2,153.9 2,472.2 12,421.9

On the following graph, plot the data for revenues and expenditures as a percentage of GDP, rounded to the nearest percent. Use the purple points (diamond symbol) for expenditures and the green points (triangle symbol) for revenues. Line segments will automatically connect the points.

image text in transcribed

In which years was the government's budget in deficit? Check all that apply.

1967

2005

1929

1986

1948

In 1948, the national debt _____(increase or decrease) by _______(306billion, 71billion, 11.8 billion)

25 Expenditures 20 15 Revenues EXPENDITURES AND REVENUES (Percent of GDP) 10 6 5 0 1910 1929 1948 1986 2005 1967 YEAR

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