第30章政府予算と財政政策

Give some examples of changes in federal spending and taxes by the government that would be fiscal policy and some that would not.

Have the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?

What are the main categories of U.S. federal government spending?

What is the difference between a budget deficit, a balanced budget, and a budget surplus?

Have spending and taxes by state and local governments in the United States had a generally upward or downward trend in the last few decades?

Why is government spending typically measured as a percentage of GDP rather than in nominal dollars?

Why are expenditures such as crime prevention and education typically done at the state and local level rather than at the federal level?

Why is spending by the U.S. government on scientific research at NASA fiscal policy while spending by the University of Illinois is not fiscal policy? Why is a cut in the payroll tax fiscal policy whereas a cut in a state income tax is not fiscal policy?

A government starts off with a total debt of $3.5 billion. In year one, the government runs a deficit of $400 million. In year two, the government runs a deficit of $1 billion. In year three, the government runs a surplus of $200 million. What is the total debt of the government at the end of year three?