Suppose the federal budget is balanced but that automatic stabilizers increase tax revenues by $30 billion per
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Suppose the federal budget is balanced but that automatic stabilizers increase tax revenues by $30 billion per year and decrease transfer pay- ments (e.g., welfare, unemployment benefits) by $10 billion per year for every 1 percentage point change in the real GDP growth. Using this infor- mation, complete the following table: L04
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