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There are three (3) types of textbook based homework items located at the end of each chapter. These include Discussion Questions (DQ), Exercises (E), and Problems (P). Some homework items have been custom created.

Complete the following from the textbook:

  • Chapter 7: E2, P1, P2, P3, P4, P5, P6, P7, P8, P9

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Explanation & Answer

Thanks God, I have finished your lengthy assignment :). The first file contains discussion questions and exercises answers and the second file is the calculation of problems in EXCEL file :). Everything was there...GUDLOCK :).

1

DISCUSSION QUESTION 1

1. Are you concerned about the size of the national debt? Why, or why not?
Answer:
I am concerned with the national debt because the national debt size has been a noteworthy
subject of U.S. household approach contention. Given the measure of financial jolt that has
been drawn into the U.S. economy over the recent years, it is straightforward why many
individuals are beginning to give careful consideration to this issue. Tragically, the way in
which the obligation level is passed on to the overall population is normally exceptionally
dark. Couple this issue with the way that many individuals don't see how the national
obligation level influences their everyday life.
What is the federal government’s largest annual source of revenues or income is from: a.
Social Security and other retirement taxes b. Personal income taxes c. Borrowing to cover the
deficit d. Corporate income taxes
Answer: b. Personal income taxes
2. The federal government spends the largest percentage of its annual funds on which of the
following? a. Social Security, Medicare, and other retirement programs b. Social programs
(including Medicaid) c. National defense, veterans, and foreign affairs d. Net interest on the
national debt.
Answer: a. Social Security, Medicare, and other retirement programs

3. Which is the last fiscal year when there was a federal surplus budget? a. 1969 b. 1990 c. 2001
d. 2011 7.
Answer: B. 1990

DISCUSSION 2

1. What is a reasonable personal savings rate for individuals in the United States? LEARNING
ACTIVITY Go to the website of the Bureau of Economic Analysis, http://www.bea.gov, and
find current information on the size of disposable personal income and personal savings.
Answer:
The reasonable personal savings rate for individuals in the United States is 5.7%.

2

Concept Check: Learning Objective 7.3 1.
How is personal saving by individuals calculated? a. Personal income plus depreciation less
personal outlays b. Personal income less personal current taxes less personal outlays c.
Personal income less only personal outlays d. Personal income plus personal current taxes
less personal outlays
Answer: b. Personal income less personal current taxes less personal outlays
2. What is the term for savings accumulated on a regular schedule for a specified length of time
by prior agreement? a. Undistributed savings b. Voluntary savings c. Contractual savings d.
Corporate savings
Answer: c. Contractual savings
3. The corporate retention rate is calculated as which of the following? a. Profits before taxes
divided by profits after taxes b. Profits after taxes divided by profits before taxes c.
undistributed profits divided by profits before taxes d. Undistributed profits divided by
profits after taxes 7.
Answer: b. Profits after taxes divided by profits before taxes
DISCUSSION QUESTION 3
1. It is important to own a home? Why, or why not?
Answer:
It is very important to own a Home. This is because if you have your own home or a house, you
could less cost and expenses in several ways, because you don’t have to pay rents, taxes of it,
and much more...


Anonymous
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