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Imagine that the net public debt of a country's government was currently $6 trillion. The debt was entirely held or owned by the citizens of that country. In other words, there is no external debt. If the government were to pay off the entire $6 trillion of debt today by the use of taxes, which of the following statements is true?A.Individuals and firms owning more of the debt than their share in taxes needed to pay off the debt have realized an increase in their disposable income.B.Individuals and firms owning less of the debt than their share in taxes needed to pay off the debt have realized a decrease in their disposable income.C.Both of these statements are true.D.Neither of these statements is true.
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