Table 1: Federal Government receipts and expenditures and nominal GDP, billions of dollars. 1967 1978 1984 1999 2009 2018 Tax receipts 108 280 410 1175 1124 1956 Other receipts 38 144 302 732 1116...


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 GDP, billions of dollars.<br>1967<br>1978<br>1984<br>1999<br>2009<br>2018<br>Tax receipts<br>108<br>280<br>410<br>1175<br>1124<br>1956<br>Other receipts<br>38<br>144<br>302<br>732<br>1116<br>1542<br>Government<br>purchases and<br>92<br>173<br>317<br>501<br>993<br>1121<br>subsidies<br>Government<br>52<br>transfer payments<br>234<br>397<br>986<br>2141<br>2846<br>Interest payments 22<br>79<br>194<br>352<br>355<br>541<br>Net government<br>investment<br>25<br>|-3<br>49<br>4<br>Nominal GDP<br>860<br>2,352 4,339<br>9,631<br>14,449 20,580<br>Source: Bureau of Economic Analysis<br>Assume the table above represents all federal government revenues and expenditures.<br>

Extracted text: Table 1: Federal Government receipts and expenditures and nominal GDP, billions of dollars. 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 92 173 317 501 993 1121 subsidies Government 52 transfer payments 234 397 986 2141 2846 Interest payments 22 79 194 352 355 541 Net government investment 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.

Jun 11, 2022
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