Figure 10.3 United States Government Source of Funds and Outlays, Fiscal 2011
What will be an ideal response?
The largest sources of federal revenues are personal income and Social Security taxes. Part of the budget—36 percent in 2011—is covered by borrowing (issuing government bonds
Social Security and Medicare made up 33 percent of federal outlays in 2011, and national defense 24 percent. Interest on the federal debt represented 6 percent of federal outlays.
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The goal of the World Bank is to
A) sell the government securities of member nations on the open market. B) supervise exchange rate stability. C) help finance economic development. D) supervise the activities of the central banks of member nations.
If the average productivity of Indian firms is rising more quickly than the average productivity of American firms, which of the following would you expect to see? (India's currency is the rupee.)
A) an increase in the prices of Indian products B) a decrease in the value of the rupee relative to the dollar C) an increase in the quantity demanded of Indian products relative to American products D) All of the above are correct.