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In a simplified economy, the total value of output produced per worker is $100. Of this amount, the firm retains $20 as profit, and the worker receives $60 as their take-home wage. Given that the total value of output must be fully accounted for by the claims of the firm, the worker, and the government, what is the value of the government's claim?
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In a simplified economy, the total value of output produced per worker is $100. Of this amount, the firm retains $20 as profit, and the worker receives $60 as their take-home wage. Given that the total value of output must be fully accounted for by the claims of the firm, the worker, and the government, what is the value of the government's claim?
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