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Question 5 Use the Ontario Budget 2020 pdf posted in learning resources to answer the following questions Use information in Chapter 3 to answer questions a-c A. Take a look at the fiscal summary (table 3.1) page 167 and discuss revenues and expenditures from 2020-21 to 2022-23. Do they plan on running a deficit or surplus? What is the debt-to-GDP ratio in 2020-21? B. What are some of the risks to revenue? What are some risks to expenses? What size deficit does the government project in 2021-22? C. What is the composition of revenue (chart 3.3)? What is the composition of expenses (chart 3.4)? List the government's 3 largest sources of revenue. List the government's 3 largest expenditures. Use information in Chapter 4 to answer questions d-f D. Discuss Ontario's borrowing program. E. What is the composition of 2020-21 borrowing? What is the current outlook on total long-term public borrowing amount? F. What does the government expect the cost of debt will be? Question 6 Looking at the federal governments balance sheet (excel spreadsheet) posted in learning resources A. Looking at the federal government annual tab. Did the government run a deficit or surplus in 2008? Did they run a deficit or surplus in 2013? (remember total revenues minus total expenditures determine a surplus (+) or deficit ()) B. Same tab as part a). What are 5 large sources of revenues for the government and what are 5 large sources of expenses for the government. C. Now look at tab Ontario balance sheet. What are 5 large sources of revenues for the provincial government and what are 5 large sources of expenses for the provincial government D. Now look at debt-to-GDP-ratio tab. Analyze the federal government net debt to GDP ratio row. How has net debt to GDP changed over time? What does it mean if we have higher debt to GDP ratio? What does it mean if we have a lower debt to GDP ratio? Question 5 Use the Ontario Budget 2020 pdf posted in learning resources to answer the following questions Use information in Chapter 3 to answer questions a-c A. Take a look at the fiscal summary (table 3.1) page 167 and discuss revenues and expenditures from 2020-21 to 2022-23. Do they plan on running a deficit or surplus? What is the debt-to-GDP ratio in 2020-21? B. What are some of the risks to revenue? What are some risks to expenses? What size deficit does the government project in 2021-22? C. What is the composition of revenue (chart 3.3)? What is the composition of expenses (chart 3.4)? List the government's 3 largest sources of revenue. List the government's 3 largest expenditures. Use information in Chapter 4 to answer questions d-f D. Discuss Ontario's borrowing program. E. What is the composition of 2020-21 borrowing? What is the current outlook on total long-term public borrowing amount? F. What does the government expect the cost of debt will be? Question 6 Looking at the federal governments balance sheet (excel spreadsheet) posted in learning resources A. Looking at the federal government annual tab. Did the government run a deficit or surplus in 2008? Did they run a deficit or surplus in 2013? (remember total revenues minus total expenditures determine a surplus (+) or deficit ()) B. Same tab as part a). What are 5 large sources of revenues for the government and what are 5 large sources of expenses for the government. C. Now look at tab Ontario balance sheet. What are 5 large sources of revenues for the provincial government and what are 5 large sources of expenses for the provincial government D. Now look at debt-to-GDP-ratio tab. Analyze the federal government net debt to GDP ratio row. How has net debt to GDP changed over time? What does it mean if we have higher debt to GDP ratio? What does it mean if we have a lower debt to GDP ratio

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