Refer to the table to answer the following questions.

Year	Nominal GDP (in billions)	Total Federal Spending (in billions)	Real GDP (in billions)	Real Federal Spending (in billions)
2000	9,817	578	11,216.4	698
2001	10,128	612	11,337.5	726.5
2002	10,469	679	11,543.1	779.5
2003	10,960	756	11,836.4	831.1
2004	11,685	826	12,246.9	865.0
2005	12,422	876	12,623.0	876.3
2006	13,178	932	12,958.5	894.9
2007	13,808	979	13,206.4	906
2008	14,291	1,080	13,161.9	971.1
2009	13,939	1,143	12,703.1	1,029.5
2010	14,527	1,223	13,088.0	1,075.9
2013	17,080	2,548	15,920	2,099

(a) Between 2000 and 2013, by what percent did federal spending increase

Instructions: 

Enter your response as a percentage rounded to one decimal place. In order to calculate a percentage change use the formula
Percentage change = (New Value - Old Value)/Old Value x 100.

(i) in nominal terms?
(ii) in real (inflation-adjusted terms)?
(b) What percent of nominal total output (GDP) came from federal purchases in

Instructions: 

Enter your responses as a percentage rounded to one decimal place.
(i) 2000?
(ii) 2013?

Answer rating: 100% (QA)

Answer a i Federal Spending in 2013 Federal Spending in 2000 Federal Spending in 2000 1... View the full answer