Currently the government of Ricardia has outlays equal to $100 billion, and a tax scheme that is related positively to real GDP by the following equation: Taxes = $25 billion + 0.1(real GDP) . What are autonomous taxes in Ricardia?
A) It depends on the level of real GDP.
B) 0.1
C) $2.5 billion
D) $250 billion
E) $25 billion
Correct Answer:
Verified
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