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Government SpendingTax RevenuesGDPYear 1$450$425$2,000Year 25004503,000Year 36004504,000Year 46406205,000Year 56805804,800Year 66006205,000 The accompanying table gives budget information for a hypothetical economy. Assume that all budget surpluses are
Government SpendingTax RevenuesGDPYear 1$450$425$2,000Year 25004503,000Year 36004504,000Year 46406205,000Year 56805804,800Year 66006205,000
The accompanying table gives budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. The budget deficit in year 2 is
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