If the federal government spends 12% of GDP and collects revenues of 10% of GDP, what is the deficit as a percentage of GDP?

Name: If the federal government spends 12% of GDP and collects revenues of 10% of GDP, what is the deficit as a percentage of GDP?
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Quizplus · Accepted Answer

The deficit is calculated as the difference between government spending and revenue. Here, the government spends 12% of GDP and collects 10% of GDP, resulting in a deficit of 2% of GDP.

If the Federal Government Spends 12% of GDP and Collects