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You have two sets of estimates of national account numbers for a closed economy for next year. In the first set, government expenditures will be $30 billion, transfer payments will be $10 billion, and taxes will be $45 billion. Under the second set, 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. Based on these numbers, what are the respective estimated results in terms of budget surpluses/deficits?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91721950

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