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 Federal budget Receipts Federal budget Spending GDP Deficit as a % of GDP
2011 $2329.8 $2682.6 $14573.2 _______
2012 2446.3 2816.7 14573.2 _______
2013 2568.6 2957.6 14573.2 _______
2014 2697.0 3105.4 14573.2 _______