1.1. Explain how each of the following events would affect the public debt or implicit liabilities of...
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1.1. Explain how each of the following events would affect the public debt or implicit liabilities of the U.S. government, other things equal. Would the public debt or implicit liabilities be greater or smaller?
a. A higher growth rate of real GDP
b. Retirees live longer
c. A decrease in tax revenue
d. Government borrowing to pay interest on its current public debt
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