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Suppose the media report that the federal deficit this year is $200 billion. The national debt was $5,000 billion last year, and it is $5,200
Suppose the media report that the federal deficit this year is $200 billion. The national debt was $5,000 billion last year, and it is $5,200 billion this year. The price level this year is 3% higher than it was last year. The real value of the deficit is what?
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