Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit) Federal Budget Receipts (billions of dollars per (billions of dollars (billons of dollars per year, Federal Surplus or Deficit year) Federal Government Spending Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3.021 3.506 17,527 2015 3.250 3.692 18.238 2016 3.268 3.853 18,745 2017 3.316 3.982 19.543 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

Consider the data below for federal budget receipts, federal budget spending, and GDP in the U.S. Calculate the federal budget surplus or deficit as a percentage of GDP for each year. (Enter your responses rounded to two decimal places and include a minus sign for a deficit) Federal Budget Receipts (billions of dollars per (billions of dollars (billons of dollars per year, Federal Surplus or Deficit year) Federal Government Spending Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2014 3.021 3.506 17,527 2015 3.250 3.692 18.238 2016 3.268 3.853 18,745 2017 3.316 3.982 19.543 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 19E

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