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Assume that the Australian Treasurer announces a budget deficit of A$80 billion in his budget report to the Parliament. 2 marks a) If the Government
Assume that the Australian Treasurer announces a budget deficit of A$80 billion in his budget report to the Parliament.
2 marks
a) If the Government collected $470 billion in tax revenue, how much did it spend for the financial year?
b) Explain the Government's intention behind the macroeconomic policy NOT to run a budget surplus over this period?
3 marks
(2 marks + 3 marks = 5 marks)
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