Question 16How strongly should demographics influence the federal budget planning process?O not strongly, because demographics do not change much from year to yearO not strongly, because reductions in discretionary spending can always adjust for demographicsO not strongly, because federal budgets do not change much from year to yearO very strongly, because demographics is driving growth in mandatory spendingO very strongly, because the budget is a function of gross domestic product (GDP), which is determined bydemographicsQuestion 50According to the U.S. Federal Tax Rates, a person earning $100,000 in a given year is in the 24% taxbracket, How much will this individual owe in taxes for that year?O less than $60,000 but greater than $42,000O less than $42,000 but greater than $30,000O less than S$30,000 but greater than $18,000O less than S18,000 but greater than $9,000O greater than $0 but less than $9,000Question 36Suppose you are offered a $20,000 raise at work. Your marginal income tax rate is 22%. Your averageincome tax rate is 17.5%. Your overall average tax rate, including social insurance, is 25.15%. Theadditional total tax you owe to the federal govermment (assuming you stay in the same rate błacket) if youaccept the job will beO $6,250O 3,500O $4,400O 55,030O 55,930

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Question 16 How strongly should demographics influence the federal budget planning process? not strongly, because demographics do not change much from year to year O not strongly, because reductions in discretionary spending can always adjust for demographios O not strongly, because federal budgets do not change much from year to year O very strongly, because demographics is driving growth in mandatory spending O very strongly, because the budget is a function of gross domestic product (GDP), which is determined by demographics

Question 16 How strongly should demographics influence the federal budget planning process? not strongly, because demographics do not change much from year to year O not strongly, because reductions in discretionary spending can always adjust for demographios O not strongly, because federal budgets do not change much from year to year O very strongly, because demographics is driving growth in mandatory spending O very strongly, because the budget is a function of gross domestic product (GDP), which is determined by demographics

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 6PA

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The graph below shows real GDP levels over time. Answer the following questions based on this graph. Real GDP Business Cycle A Time a. At time T, what is the economy experiencing? O an economic expansion O full-employment output O an economic contraction b. In order to smooth out the business cycle, what type of fiscal policy should the government undertake? O expansionary fiscal policy O contractionary fiscal policy c. What type of actions might the government take? O a decrease in taxes and an increase in government purchases O an increase in taxes and a decrease in government purchases O a decrease in both taxes and government purchases. O an increase in both taxes and government purchases
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