Question
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.
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 YEARStep by Step Solution
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