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At the end of 2012,the government had a debt of about $11.3 trillion.If during 2013 real GDP rose 2% and inflation was 2.2%,what is the largest deficit the government could have run without raising the debt-to-GDP ratio?
Like-kind Exchange
A tax deferment strategy allowing for the exchange of similar types of property without the immediate tax liability.
FMV
stands for Fair Market Value, which is the estimated price an asset would sell for on the open market under current conditions.
Similar or Related
This term broadly refers to items, concepts, or entities that share common traits or have a connection in context, purpose, or function, often used in comparisons or legal interpretations.
Like-kind Exchange Requirements
Conditions that must be met for an exchange of property to qualify as tax-deferred under Section 1031 of the U.S. Internal Revenue Code.
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