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Imagine that the only source of a government's budget is tax revenue. The country's GDP is$700billion. The government's total tax revenue is$226.8billion; one-third goes to
Imagine that the only source of a government's budget is tax revenue. The country's GDP is$700billion. The government's total tax revenue is$226.8billion; one-third goes to transfer payments, and the rest is spent on infrastructure at the federal, state, and local levels.
Calculate government spending as a share of GDP. Enter your answer in the box below, and throughout your calculations, round to one decimal place if necessary.
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