-Economic data for a mythical economy in the years 2012-2016 are summarized in the figure above. Assume that the spending formulas and tax schedules are identical for all years. When the economy is above full employment, the government has a

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When an economy is above full employment, it typically generates higher tax revenues due to increased income and business profits, while simultaneously reducing the need for government spending on unemployment benefits and other social support programs. This situation often leads to a budget surplus, as the government's revenues exceed its expenditures.

-Economic Data for a Mythical Economy in the Years 2012-2016