Final answer:
Patterns in appropriations bills show that federal grants to governments have increased since the 1960s and that federal budget deficits inversely correlate with private investment in physical capital.
Step-by-step explanation:
Looking at several bar graphs illustrating expenditures, deficits, and private investments, we can identify a few recurring patterns in the appropriations bills. First, as federal grants to state and local governments have steadily increased since the 1960s, This shows a governmental commitment to a range of programs over time. Another pattern emerges when we consider the relationship between federal budget deficits and private investment.
The data shows that during periods of federal budget surplus, private investment in physical capital tends to increase, as seen from 1995 to 2000. Conversely, when the government runs a deficit, such as in the early 2000s, private investment typically decreases. Moreover, the general shape of the curve when drawn through the tops of the bars of the histogram shows these fluctuations clearly and could be described as having peaks and troughs corresponding to the economic changes and policy decisions over the years.