Solutions Economics

Suppose Yd = (1-t)*Y, where t is a proportional tax equal to 0.50. (a) How much should the governme

Question: Suppose Yd = (1-t)*Y, where t is a proportional tax equal to 0.50.

(a) How much should the government increase spending if it wants to increase equilibrium GDP to 1500?

(b) Why is your answer different from part (a)?

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