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Use the following data for the next two questions:
Year
Net Taxes (in millions of dollars)
Government Purchases (in millions of dollars)
2010
$2.0
$ 2.3
2011
3.0
3.1
2012
3.2
2013
2.9
2014
1. Suppose the national debt is $47 million at the end of 2009. Assume that all surpluses go to retiring federal debt. Then, what is the national debt at the end of 2014?
2. Less than $44 million
3. Between $44 million and $46 million
4. Between $46 million and $48 million
5. Between $48 million and $50 million
6. Greater than $50 million
2. During which of the above years is public savings positive?
1. None of them
2. 2012 and 2014
3. 2010, 2011, and 2013
4. All of them
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