Question

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.)

Answer 1

We need to provide the accompanying estimates of federal budget​ receipts, federal budget​ spending, and​ gdp, all expressed in billions of dollars.