Using quarterly data since 1948, graph the Federal deficit as a percentage of GDP. What is the
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Using quarterly data since 1948, graph the Federal deficit as a percentage of GDP. What is the cyclical behavior of the Federal deficit? Repeat this exercise for the deficits of state and local governments. Are state and local deficits more or less cyclically sensitive than Federal deficits?
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To graph the Federal deficit as a percentage of GDP using quarterly data since 1948 you would need to follow these steps 1 Obtain the historical data ...View the full answer
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