1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elden [556K]
3 years ago
7

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry abou

t trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $24.19 billion. The country collected $22.9 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance? Enter your answer to two decimal places. budget balance: $ −1.29 billion In the last fiscal year, Lilliput was running a budget surplus a budget deficit a balanced budget
Business
1 answer:
Sophie [7]3 years ago
5 0

Answer:

The budget balance is -$1.29 billion.In the last fiscal year, Lilliput was running a budget deficit of $1.29 billion.

Explanation:

The budget balance of a country can be used to determine weather the country is running a budget surplus or deficit. This can be expressed as;

B=R-E

where;

B=budget balance

R=total revenue in the form of taxes

E=expenditure

In our case;

B=unknown

R=$22.9 billion

E=$24.19 billion

replacing;

B=22.9-24.19=-$1.29

The budget balance is -$1.29 billion.In the last fiscal year, Lilliput was running a budget deficit of $1.29 billion.

You might be interested in
according to the international data corporation (idc), what is that crucial ability that will make cloud computing essential for
Fofino [41]

According to the International Data Corporation (IDC), the crucial ability that will make cloud computing essential for businesses to succeed, sustain, and compete in today’s markets is D. Data-driven decisions.

<h3>What are data-driven decisions?</h3>

A data-driven decision is the use of facts, metrics, and data to guide strategic business decisions to align with organizational future goals, objectives, and current initiatives.

Data-driven decisions enable organizations to observe real data and gain predictive insights, enabling the organization to achieve efficiency and effectiveness in its operations.

Thus, according to the International Data Corporation (IDC), the crucial ability that will make cloud computing essential for businesses to succeed, sustain, and compete in today’s markets is D. Data-driven decisions.

Learn more about data-driven decision-making at brainly.com/question/17651028

#SPJ12

4 0
2 years ago
How do we know our current money has value?
Andreyy89
If you can use it to get stuff then it has value
8 0
4 years ago
A company purchased land for $90,000 cash. real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an ol
Fed [463]

Based in the historical cost principle, the total cost of the land would be the summation of all cost, either direct or indirect.

Therefore it would be:

Cost of Land = $90,000 cash + $5,000 commission + $7,000 demolishing

Cost of Land = $102,000

 

<span> </span>

3 0
3 years ago
Which of the following statements about GDP (gross domestic product) is TRUE?
nasty-shy [4]

Answer:

a)     GDP measures the market value of final goods and services produced within a country.

Explanation:

Gross Domestic Product{ GDP} is the total market value of all the finished goods produced within the boundaries of a country at a specific time.  GDP takes into account all products and services regardless of who produces them, be it locals or foreigners. In short, GDP is a measure of all domestic productions.

Economist uses GDP as a scorecard of a country's economic status. They use it to determine the growth rate of an economy and its size.

Investors and business people will use GDP in the decision-making process. They will want to invest in industries or countries that are growing. A steady rise in GDP signifies that the economy is doing well and growing. A decrease in GDP will indicate a recession.

3 0
3 years ago
When preparing a merchandise purchases budget, the required purchases in units equals: Select one: a. budgeted unit sales + begi
miskamm [114]

Answer:

b. Budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.

Explanation:

Since, the total purchases in units means the number of units that the company needs to buy after maintaining the necessary closing inventory to meet the budgeted sales. The total units required should therefore be equal to the total of the budgeted sales units and the units for the closing of inventory.

Also, if the opening inventory exists out of the total units required, then that number of merchandise does not need to be purchased as it already exists.

Therefore to reach the required purchase unit we need to add budgeted unit sales and desired merchandise ending inventory and deduct the beginning merchandise inventory.

So, the correct option is b.

8 0
3 years ago
Other questions:
  • A buyer entered into a contract with a seller to purchase the seller's farm. The contract of sale referred to the farm as contai
    13·1 answer
  • What is the consistent finding regarding age identity of 60- to 75-year-olds?
    11·1 answer
  • Assuming that all the table and column names are spelled correctly, what's wrong with the INSERT statement that follows?
    13·1 answer
  • Jana completed an informational interview with a preschool teacher in her area. She wants to write a thank-you letter. What shou
    15·1 answer
  • What actions does the U.S. government take to ensure competition?
    8·1 answer
  • A firm's marginal cost curve Group of answer choices always has a positive slope. always intersects its average cost curve at it
    5·1 answer
  • Jessica can produce 2 boats in a day or 100 umbrellas in a day. Paul can produce 3 boats in a day or 120 umbrellas in a day. Thi
    6·1 answer
  • Why is organizational support for a health and safety training initiative so important for the success of the training program?
    6·1 answer
  • Need help with questions 1-5
    10·1 answer
  • the ____________ describes a situation where sufficient credit is available, but the economy experiences a reduction in consumpt
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!