For a national government, assume that the total revenue for 2013 was 3.2 trilli

Question

For a national government, assume that the total revenue for 2013 was 3.2 trillion and total spending was 2.6 trillion. Suppose that total spending increased by 1.6% over the 2013 level. Would this increase be possible with a 2.2% increase in revenue over the 2013 level? For a national government, assume that the total revenue for 2013 was 3.2 trillion and total spending was 2.6 trillion. Suppose that total spending increased by 1.6% over the 2013 level. Would this increase be possible with a 2.2% increase in revenue over the 2013 level?

Explanation / Answer

So we see that the increase is possible because the revenue increased by a greater percentage than the spending.

Please like my answer.

2013 2014 Revenue 3.2 tn (3.2*1.022)= 3.2704 Spending 2.6 tn (2.6*1.016) = 2.6416 Revenue > Spending Yes Yes

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