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Consider the following information. Transfer Payments Made by Household Personal Interest Payments Personal Income Personal Consumption Expenditures Billions of $ 120 12 900 340

Consider the following information. Transfer Payments Made by Household Personal Interest Payments Personal Income Personal Consumption Expenditures Billions of $ 120 12 900 340 a) If the income tax rate is 20%, calculate the personal savings and personal saving rate b) Comment on your answer in part a.

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