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Y Government Government Real ear Purchases Taxes GDP Suppose there is no public debt before Year 1 and that net transfers are equal to zero.

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Y Government Government Real ear Purchases Taxes GDP Suppose there is no public debt before Year 1 and that net transfers are equal to zero. What is the public decit as a percentage of GDP in Year 2? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13

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