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a. In 2018 the state of Illinois had a roughly $7.8 billion deficit, $120 billion debt, and $189 billion in unfunded liabilities. Explain the difference
a. In 2018 the state of Illinois had a roughly $7.8 billion deficit, $120 billion debt, and $189 billion in unfunded liabilities. Explain the difference between these numbers.
b. Explain how the zero lower bound is not necessarily binding (e.g. the lowest it can go).
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