Solve the Problem. -In a Recent Year, the Total Receipts for the US

question 43

Multiple Choice

Solve the problem.
-In a recent year, the total receipts for the US federal government were estimated to be $2288 billion. The total outlays were estimated to be $2613 billion. The table below shows the makeup of federal
Government receipts that year - the percentage of total receipts coming from each category. How much income came from individual income taxes that year?

• A)$1 trillion
• B)$1.1 trillion
• C)$965 billion
• D)$847 billion

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Definitions:

Material Well-being

A measure of the quantity and quality of goods and services available to an individual or society.

Net Investment

Gross investment minus depreciation.

Gross Private Domestic Investment

The aggregate amount of investment in physical assets, such as buildings and machinery, by the private sector within a country.

Military Goods

Products and services specifically designed, manufactured, and supplied for use by armed forces.