Question: Use the figures in Table 2.4 to answer the following questions. a. For the period 1970-2005 compute the rate of growth in federal receipts (as

Use the figures in Table 2.4 to answer the following questions.
a. For the period 1970-2005 compute the rate of growth in federal receipts (as a percent of GDP) for each five year period. Identify the five-year time period over which receipts grew fastest as a percent of GDP.
b. For the period 1980-2005 compute the rate of growth in federal debt (as a percent of GDP) for each five year period. Identify the five-year period over which federal debt grew fastest as a share of GDP

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