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.)

Year 2015 2016 2017 2018 Federal Budget Receipts (2% growth) $2,329.8 2,376.4 2,423.9 2,472.4 Federal Budget Spending GDP Deficit as a (4% (2% growth) of GDP $2,682.6 $14,573.2 2,789.9 14,864.7 2,901.5 15.162.0 L 3,017.6 15.465.2 L