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Suppose the economy has a trade deficit of $50 billion and private savings of $150 billion. The economy is running a budget deficit of $120
Suppose the economy has a trade deficit of $50 billion and private savings of $150 billion. The economy is running a budget deficit of $120 billion. Determine what value the budget deficit would have according to the national savings and investment identity equation. Assume that the trade deficit changed to the trade surplus, keeping the previous numerical value, while other components remained unchanged. Write the exact answer as a positive number. Do not round
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