Macroeconomics Unit Chapter 14  BUDGET DEFICIT:  when expenditures exceed revenue Expenditure: an amount of money spent Revenue: income EOC study guide.

Slides:



Advertisements
Similar presentations
CONGRESSIONAL BUDGET OFFICE Total Revenues and Outlays Percentage of GDP Revenues: Funds collected from the public that come from a variety of sources,
Advertisements

Fiscal Policy Lecture notes 10 Instructor: MELTEM INCE
The Federal Government’s Budget. The government ’ s fiscal year runs from April 1 to March 31. The upcoming budget will estimate revenues and expenditures.
Fiscal Policy, Deficits, and Debt 13 McGraw-Hill/IrwinCopyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
DEFICITS AND DEBT DEFINITIONS DEFICIT – ANNUAL AMOUNT THAT GOVERNMENT BORROWS (SIMILAR TO WHAT PUT ON CREDIT CARD IN A YEAR) DEBT – TOTAL AMOUNT OF BORROWING.
Deficits and Debt. The Budget Process Taxes, especially personal income taxes, provide most of the federal government’s revenue.  The federal budget.
Unit 7 Macroeconomics: Taxes, Fiscal, and Monetary Policies Chapters 15.3 Economics Mr. Biggs.
Introduction to Macroeconomics
Government Spending Economics Chapter 10 Did you know… Between 1962 and 1993, federal transfer payments to people eligible for benefits because of poverty.
Copyright © 2006 Pearson Education Canada Fiscal Policy 24 CHAPTER.
Canada Macroeconomics. GDP GDP stands for the gross domestic product. This is the number for how much percentage of economic growth has happen in a specific.
Chapter 3 Assessing Economic Conditions. Learning Objectives  Identify the macroeconomic factors that affect business performance.  Explain how market.
1 The Circular Flow With Government Here we expand on the simple circular flow model to include the government.
Copyright © 2006 Pearson Addison-Wesley. All rights reserved. Chapter 5 National Saving, the Government Budget, Foreign Borrowing, and the Twin Deficits.
Taxes and Spending Chapter 14. SECTION 1 Taxes Three Major Federal Taxes The government collects three major federal taxes: personal income tax, corporate.
Chapter 15: Fiscal Policy © 2008 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien, 2e. 1 of 46 Fiscal policy Changes.
National Debt. What do we owe? April 2015 National Debt has reached $18.2 trillion Average of: $56,728 per person Average of: $154,161 per tax payer.
McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved.
Part B: The Federal Government’s Budget. The Federal Government ’ s Budget The government ’ s fiscal year runs from April 1 to March 31. The upcoming.
11 FISCAL POLICY CHAPTER.
Fiscal Policy. Section 1  Fiscal Policy is the federal government’s use of taxing and spending to keep the economy stable -Government spending has a.
Government Spending, Pt. 2. What are the three top expenditures of the federal gov’t? Social Security (#2) Medicare (#3) National Defense (#1)
GROSS DOMESTIC PRODUCT The market value of all goods and services produced within a country in a given period of time. It can be measured as all the EXPENDITURES.
POLS /25/04 The Federal Budget and Process.
Section Outline 1 of 7 Government’s Role In Our Economy Section 3: Managing the Economy I.The Nation’s Economic Health II.The Federal Budget III.Federal.
The use of government spending and taxing to achieve economic growth, full employment and stable prices. FISCAL POLICY Chapter 15.
ECONOMIC POLICY A BRIEF OVERVIEW HONORS GOVERNMENT.
National Debt v. Budget Deficit. Government Spending Vocab terms related to National Debt & Budget Deficit Revenue = money collected by the government.
Economics Chapter 15 Fiscal Policy. What Is Fiscal Policy? Fiscal policy is the federal government’s use of taxing and spending to keep the economy stable.
Economics Chapter 15 Fiscal Policy. What Is Fiscal Policy? Fiscal policy is the federal government’s use of taxing and spending to keep the economy stable.
Fiscal Policy How We Decide to SPEND or COLLECT Money.
ECONOMICS. Economy Types There are four types of economy in the United States Agricultural Service Industrial Information.
Economic Activity in a Changing World Chapter 3 pp
Chapter 14 Taxes and Government Spending Taxes Tax – Financial charges imposed on individuals and businesses by a government Purposes of taxes To provide.
Creating a Budget Chapter 14. Budget Process Deficit v. Surplus Deficit occurs when expenditures exceed revenues in a year – $1.3 trillion in 2010 Surplus.
Raising Money Types of Taxes Managing the Country’s Money.
Fiscal Policy and the Multiplier. Unemployment Economic Growth.
Governments & Fiscal Policy Three levels of government: 1.Federal (USA) 2.State (NH) 3.Local (Merrimack) Fiscal Policy = plan for how governments gain.
Fiscal Policy Using taxes and government spending to influence the economy.
Chapter Twenty Five The Government and Fiscal Policy.
Important Terms from Anderson Chapter 25 How Much Debt is Too Much?
Fiscal Policy- the use of gov’t spending and taxing to influence the economy Chapter 15, Sections 1 & 3.
Chapter 15SectionMain Menu Fiscal Policy and the Federal Budget The federal budget is a written document indicating the amount of money the government.
Bell Ringer Activity Based on history, what has happened each time our economic system faced change?
Government Debt vs. Deficit
Macroeconomics Unit Chapter 14  BUDGET DEFICIT: when expenditures exceed revenue Expenditure: an amount of money spent Revenue: income EOC study guide.
Fiscal Policy. Fiscal Policy - the use of government spending (expenditures) and revenue collection (taxes) to influence the economy. 1. Congress’s Role.
Chapter 3 Key Terms. Gross Domestic Product (GDP) The total value of the goods and services produced in a country in a given year.
Fiscal Policy Chapter 12 Copyright © 2011 by The McGraw-Hill Companies, Inc. All Rights Reserved.McGraw-Hill/Irwin.
Chapter 13: Government Borrowing Chapter 13 Government Borrowing Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
Part A: Budgeting. What is a Budget? A budget is a plan for money, estimate of expected revenues and expenses for the future. Helps to determine if you.
Transparency 16-1 What Are the Major Federal Taxes? Personal income tax Corporate income tax Social security tax.
Chapter 15: Fiscal Policy Section 3. Copyright © Pearson Education, Inc.Slide 2 Chapter 15, Section 3 Objectives 1.Explain the importance of balancing.
What is a Budget?. A budget is…. A plan for how you will use your money. A prediction of how much money you will have. A blueprint for you can spend your.
ECONOMICS EOC Wrap-up!. Final Unit Packet: Due day of EOC 1.Government Debt and Deficit 2.GDP Guided Notes 3.Everybody Loves Taxes! 4.International Trade.
Fiscal Policy and the Federal Budget How is the federal budget developed?
Fiscal Policy Using taxes and government spending to influence the economy.
7 th Grade Civics Miss Smith *pgs  Each level of government has a department responsible for collecting taxes  Ex: Internal Revenue Service.
BORROWING MONEY AND PUBLIC DEBT. HOW DOES THE GOVERNMENT BORROW MONEY?  Article 1, Section 8, Clause 2 gives congress the power to “borrow money on the.
Financing the Government. Taxes and Revenue Progressive tax – the higher the income, the higher the rate Payroll taxes – taxes matched by employers Regressive.
Chapter 14 Taxes and Government Spending. Taxes Tax – Financial charges imposed on individuals and businesses by a government Purposes of taxes To provide.
  GDP (Gross Domestic Product) – Basic measure of a nation’s economic output and income. Total market value of all goods and services produced in the.
Introduction to Business Mrs. A. Measuring Economic Activity Economic indicators Economic indicators – important data or statistics that measure economic.
Where your money goes Chapter 10.2 & 10.3.
Government Debt vs. Deficit
Chapter 15 Fiscal Policy.
Chapter 10 Fiscal Policy.
Economic Activity in a Changing World
Chapter 15: Fiscal Policy Section 3
Federal Budget.
Presentation transcript:

Macroeconomics Unit Chapter 14

 BUDGET DEFICIT:  when expenditures exceed revenue Expenditure: an amount of money spent Revenue: income EOC study guide Macroeconomics #14

BUDGET SURPLUS: when revenue exceeds expenditures

Fiscal yearDeficit Deficit as share of GDP 20091,412,688,000, percent 20101,294,373,000, percent 20111,299,593,000, percent 20121,086,963,000, percent ,502,000, percent ,000,000, percent Source: obama/obama-says-he-has-cut-national-deficit-half/

 Gross domestic product (GDP) is a measure of the income and expenditures of an economy  GDP is the total market value of all final goods and services produced within a country in a given period of time

Source:

 Congress and the President!!!  If the economy slows down, there is less tax revenue It takes time to adjust Federal spending  If war breaks out, spending increases

What if There are Unforeseen Costs?

 Lobbyists can impact spending— spending in 2012 Source Open Secrets.org

 National Debt: the sum of all past deficits and surpluses Currently: Over $18,611,073,500,000! Currently  approx. $57,768 per citizen  or $155,926 per taxpayer EOC study guide Macroeconomics #15

Source: /.../budgetinfogra phic.pd..

John Green on the Debt 2012

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.