1-Refer to Table 1. Calculate the government budgetary position in 1978 in billions of dollars. If the budget is in deficit, enter a ‘-‘ sign before the value. 2-Refer to Table 1. Price level as measured by the CPI was 104 in 1984 and 251 in 2018. Calculate the value of interest payments made by the government in 1984, adjusted to 2018 dollars.
Table 1
Federal Government receipts and expenditures and nominal
|
|
1967 |
1978 |
1984 |
1999 |
2009 |
2018 |
|
Tax receipts |
108 |
280 |
410 |
1175 |
1124 |
1956 |
|
Other receipts |
38 |
144 |
302 |
732 |
1116 |
1542 |
|
Government purchases and subsidies |
92 |
173 |
317 |
501 |
993 |
1121 |
|
Government transfer payments |
52 |
234 |
397 |
986 |
2141 |
2846 |
|
Interest payments |
22 |
79 |
194 |
352 |
355 |
541 |
|
Net government investment |
9 |
5 |
25 |
-3 |
49 |
4 |
|
Nominal GDP |
860 |
2,352 |
4,339 |
9,631 |
14,449 |
20,580 |
Source: Bureau of Economic Analysis
Assume the table above represents all federal government revenues and expenditures.
I need your help in the following questions please:
1-Refer to Table 1. Calculate the government budgetary position in 1978 in billions of dollars. If the budget is in deficit, enter a ‘-‘ sign before the value.
2-Refer to Table 1. Price level as measured by the
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