Investment 200, Net Exports 50, Total Tax Reven 250, Income tax rate 10%. How much income should been arned by the businesses and the individuals in order for the government to reach a balanced budget?
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- Do you agree or disagree with this statement: “It is in the best interest ofoureconomy forCongress and the President to run a balanced budget each year.” Explain your answer.What is direct tax and indirect tax? Give example. How does taxation helps in fiscal development?Define government budget in not more than 3 lines
- Do you agree or disagree with this statement: “It isin the best interest of our economy for Congress and thePresident to run a balanced budget each year.” Explainyour answerFiscal policy is spending and taxation of the executive branch of the federal government; in recessionary times, what initiatives in spending and or taxation are going to help the economy?What is the importance of studying the national budget and how it will affect our economy?
- 5. Suppose damages caused by a typhoon reduced output by P600 million. In response, the government plans to increase expenditure. Assume that the marginal propensity to consume is stable at 80%. a. In order to reach the pre-typhoon level of output, by how much should government expenditure increase?Questions:4. what is the government's current budget balance?billions of dollarsWhat is the primary goal of fiscal policy? A. Maintaining price stability B. Achieving full employment C. Promoting economic growth D. Regulating financial markets