Economics 102 Problem Set _1 S2010

Economics 102 Problem Set _1 S2010 - Economics 102 Problem...

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1 Economics 102 Problem Set #1 Graphing and Summarizing Data Due in SmartSite by 10 p.m. on Monday, April 12 Department of Economics Professor Siegler UC Davis Spring 2010 Instructions: Please submit a Word document in SmartSite containing all of your written answers and graphs to the questions below. Also, submit an Excel document containing the background calculations and graphs used in Word. 1. California Voters and Balancing the State Budget A. Consider the data below regarding the final California budget for 2009-2010: Table 1 California General Fund Expenditures by Agency, 2009-2010 (Millions of Dollars) Agency Expenditures K-12 Education $34,554 Health and Human Services $25,045 Higher Education $10,566 Corrections and Rehabilitation $8,161 Business, Transportation, and Housing $2,674 Natural Resources $1,865 Other $3,227 TOTAL $86,092 Source: California Budget 2010-2011 , Governor’s Proposed Budget, www.ebudget.ca.gov . Note that “Natural Resources” includes state parks and recreation facilities. “Other” includes the legislative, judicial, and executive branches of government as well as environmental protection, and employment development. Construct a well-formatted and labeled pie chart in Excel displaying the data above. Be sure to include the percentages in your pie chart. Copy and paste the completed chart into Word. B. A recent public opinion poll (Field Poll, March 2, 2010, http://www.field.com/fieldpollonline/subscribers/Rls2329.pdf ) showed that the majority of California voters prefer spending cuts, and not increases in taxes, to eliminate the projected $20 billion deficit in California’s budget for next year
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2 (2010-2011). Only 13 percent of California voters favor balancing the budget with only or mostly tax increases. In a follow-up poll, California voters were asked where they favored spending cuts. The results from this poll are shown below: Table 2 California Voter Support for Spending Cuts to Help Reduce the State Budget Deficit State Funding for: Percent Favoring Cuts State Prisons and Correctional Facilities 56% State Parks and Recreation Facilities 52% Public Transportation 48% Public Assistance for Low-Income Families 40% Higher Education 28% Public Assistance for Elderly and Disabled 21% Public Schools (K-12) 20% Source: The Field Poll , Release #2335, Table 1, March 24, 2010, www.field.com/fieldpollonline/subscribers/Rls2335.pdf . The findings in this report are
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Economics 102 Problem Set _1 S2010 - Economics 102 Problem...

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