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Assume that the government of Canada's budget were to hypothetically consist of the following projected revenues and outlays: $30 billion in personal income taxes, $15

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Assume that the government of Canada's budget were to hypothetically consist of the following projected revenues and outlays: $30 billion in personal income taxes, $15 billion in corporate income taxes, $5 billion in indirect taxes, $2 billion in investment income, $30 billion in transfer payments, $12 billion in government expenditure, and $8 billion in debt interest. Based on this information, we can conclude that Canada has O debt of 2 billion dollars O budget deficit of 2 billion dollars. debt of 3 billion dollars. budget surplus of 2 billion dollars. budget deficit of 3 billion dollars

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