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Statement: "In view of a likely fiscal deficit of around five per cent, there is no denying the need for a consensus to trim government expenditure." - View of Mr X Assumptions: I. Trimming government expenditure is an effective tool to curb fiscal deficit. II. Trimming government expenditure is not an effective tool to curb fiscal deficit.

if only assumption I is implicit.
if only assumption II is implicit.
if either I or II is implicit.
if neither I nor II is implicit.

Correct Answer: if only assumption I is implicit.

Explanation:

Only I is implicit. That is why Mr X advocates for the need for a consensus to trim government expenditure.

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