Problem

der the table showing past and projected federal revenue, spending, and GDP. All figures are in billions of dollars rounded to the nearest billion. Find the deficit as a percentage of GDP in 2015 and 2025 (projected). What is the percentage change during this period?
\begin{tabular}{|l|c|r|c|}
\hline Year & \begin{tabular}{c}
Surplus or \\
Deficit
\end{tabular} & Debt & GDP \\
\hline 2005 & -310 & 8105 & 12,825 \\
\hline 2015 & -441 & 18,180 & 17,500 \\
\hline 2025 & -1172 & 35,856 & 28,235 \\
\hline
\end{tabular}
the deficit as a percentage of GDP in 2015 ?
The deficit was $\square \%$.
(Round to one decimal place as needed.)
What is the projected deficit as a percentage of GDP in 2025 ?
The deficit is projected to be $\square \%$.
(Round to one decimal place as needed.)
What is the percentage change during this period?
The percentage change was $\square \%$.
(Round to one decimal place as needed.)

Answer

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Answer

Final Answer: The deficit as a percentage of GDP in 2015 was \(\boxed{-2.52\%}\). The projected deficit as a percentage of GDP in 2025 is \(\boxed{-4.15\%}\). The percentage change during this period is \(\boxed{64.72\%}\).

Steps

Step 1 :First, we calculate the deficit as a percentage of GDP for the years 2015 and 2025. This can be done by dividing the deficit by the GDP and then multiplying by 100 to get the percentage.

Step 2 :For 2015, the deficit is -441 billion dollars and the GDP is 17,500 billion dollars. So, the deficit as a percentage of GDP in 2015 is \(-\frac{441}{17500} \times 100 = -2.52\%\).

Step 3 :For 2025, the projected deficit is -1172 billion dollars and the projected GDP is 28,235 billion dollars. So, the projected deficit as a percentage of GDP in 2025 is \(-\frac{1172}{28235} \times 100 = -4.15\%\).

Step 4 :Next, we calculate the percentage change during this period by subtracting the percentage in 2015 from the percentage in 2025, dividing by the percentage in 2015, and then multiplying by 100.

Step 5 :The percentage change is \(\frac{-4.15 - (-2.52)}{-2.52} \times 100 = 64.72\%\).

Step 6 :Final Answer: The deficit as a percentage of GDP in 2015 was \(\boxed{-2.52\%}\). The projected deficit as a percentage of GDP in 2025 is \(\boxed{-4.15\%}\). The percentage change during this period is \(\boxed{64.72\%}\).

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