Question: Using the FRED economic database ( https://fred.stlouisfed.org/ ), create a series showing federal expenditures as a share of GDP. First find Federal Government current expenditures.
Using the FRED economic database (https://fred.stlouisfed.org/), create a series showing federal expenditures as a share of GDP. First find Federal Government current expenditures. Then Edit Graph and, under Customize Data, add Gross Domestic Product (since expenditures are in billions, look for GDP in billions, not real GDP). After adding GDP, go down to the Formula field and use a/b*100.
a. Approximately how much of GDP was spent by the Federal government in 2016?
b. In the 2008–2009 recession what happened to Federal spending as a share of GDP? Give two reasons why?
Step by Step Solution
3.29 Rating (164 Votes )
There are 3 Steps involved in it
a 22 b Federal spending as a share of GDP increased with ... View full answer
Get step-by-step solutions from verified subject matter experts
