At the end of 2011, Chinas government debt was 4,700 billion ( is yuan, the currency of
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At the end of 2011, China’s government debt was ¥4,700 billion (¥ is yuan, the currency of China). In 2012, the government spent ¥6,000 billion and ended the year with a debt of ¥5,300 billion. How much did the government receive in tax revenue in 2012? How can you tell?
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Government debt is equal to the sum of past deficits minus the sum of past surpluses I...View the full answer
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Related Book For 
Macroeconomics Canada In The Global Environment
ISBN: 9780321931207
9th Edition
Authors: Michael Parkin, Robin Bade
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