Appropriation to the State Library System

(TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201

. (TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $24,000,000.Quarterly allotments were as follows:

Q1 – $5,750,000
Q2 – $7,000,000
Q3 – $5,250,000
Q4 – $6,000,000

On December 31, 201X, budget reports showed expenditures of $12,500,000 and encumbrances of $800,000. Taking encumbrances into consideration, what is the status of Library System spending as of December 31?

(Points : 4)

1. Operations were fully consistent with plan
2. Over plan by $550,000
3. Under plan by $550,000
4. Under plan by $650,000

TCO B) Current-dollar government purchases were $1,750 billion in 2010. With 2000 as the base year, assume the price deflator for 2010 is 175 (or, 1.75 if you don’t multiple by 100). In real dollars, the year 2000 government purchases would be which of the following (rounded to the nearest billion)? (Points : 4)

$714 billions
$857 billions
$1000 billions
$2188 billions