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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

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 Government Receipts Spending Real GDP Federal Surplus or Deficit (billions of dollars (billions of dollars (billions of dollars per year, as a percentage of Year per year) per year) in constant 2005 dollars) GDP (%) 2018 3,330 4,109 20,657 % 2019 3,463 4,447 21,521 % 2020 3,421 6,554 21,323 % 2021 4,047 6,822 23,594 % *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis

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