Question
You are Secretary of the Treasury Steven Mnuchin.It's nearly three years into Trump's first term as president and you receive some estimates of national accounts
You are Secretary of the Treasury Steven Mnuchin.It's nearly three years into Trump's first term as president and you receive some estimates of national accounts numbers you plan to report to the President in a cabinet meeting.Under one set of expectations, government expenditures will be $30 billion, transfer payments will be $10 billion, and taxes will be $45 billion. Under another set of expectations, GDP will be $200 billion, taxes will be $50 billion, transfer payments will be $20 billion, consumption will be $120 billion, and investment will be $40 billion.
a. Based on these numbers in the first
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