Consider the data below for federal budget recoipts, 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 Government Spending Federal Budget Receipts (billions of dollars per (billions of dollars (billions of dollars per year, Federal Surplus or Deficit year) Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2016 3,268 3,853 18,745 2017 3,316 3,982 19,543 2018 3,330 4,109 20.612 2019 3.462 4,447 21.433 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

Consider the data below for federal budget recoipts, 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 Government Spending Federal Budget Receipts (billions of dollars per (billions of dollars (billions of dollars per year, Federal Surplus or Deficit year) Real GDP Year per year) in constant 2005 dollars) as a percentage of GDP (%) 2016 3,268 3,853 18,745 2017 3,316 3,982 19,543 2018 3,330 4,109 20.612 2019 3.462 4,447 21.433 "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Real-Time Data Analysis Exercise*
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
Federal Budget
Receipts
(billions of dollars per(billions of dollars (billions of dollars per year, Federal Surplus or Deficit
Government
Spending
Real GDP
Year
year)
per year)
in constant 2005 dollars) as a percentage of GDP (%)
2016
3,268
3,853
18.745
2017
3,316
3,982
19,543
2018
3,330
4.109
20,612
%
2019
3.462
4.447
21.433
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.

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