Consider Figure 14-2. The years immediately after 2008 stand out as having the highest values in the

Question:

Consider Figure 14-2. The years immediately after 2008 stand out as having the highest values in the figure. The main reason is that the dollar magnitudes of the federal government's deficits were very large during these years. How might the fact that a significant economic contraction occurred during these years provide another explanation for why the percentages for these years were so high?