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Suppose that real national income (Y ) is equal to 800 and that government purchases are equal to 200. If the government's net tax revenues
Suppose that real national income (Y ) is equal to 800 and that government purchases are equal to 200. If the government's net tax revenues are equal to ty, where t is the net tax rate, then what is the value of t necessary for the government to have a balanced budget? 20 percent 25 percent 30 percent 35 percent 40 percent
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