Question

TII JUIL. 20, JUUJ PE C. JUI Toompere Text Problem 14-2 Question Help $ Suppose that the Office of Management and Budget provides the accompanying estimates of federal budget receipts, federal budget spending, and GDP, all expressed in billions of dollars. Calculate the implied estimates of the federal budget deficit as a percentage of GDP for each year (Enter each response as a percentage rounded to one decimal place. Do not include a plus or minus sign) Deficit as a % of GDP Year 2015 2016 2017 2018 Federal Budget Receipts (3% growth) $2.329.8 2399.7 2.471.7 2.545.8 Federal Budget Spending (6% growth) $2,6826 2,8436 3,014 2 3.195.0 GDP (2% growth) $14,573.2 14,8647 15,1620 15,4652

Answer 1

Year Deficit Defiut as a % puis 2682-6-2329-8= 352.8 3525/4573.100=(24) Polo 2843-6-2399.72 443.9 19334 Radno = (3.0) 2017 (3014.2-2471.7=5425 1542-5/15167100= 3.61 2018 [3195 - 1545.8=649.2 104/5465 +100= (4.2