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Social Studies, 11.03.2020 23:02 heyitzmeamelie

Assume that the economy is operating in long-run equilibrium. To balance the budget, the government raises personal income taxes. In the shortrun, the increase in personal income taxes would most likely cause each of the following changes.1. Aggregate Demand 2. Short-run Aggregate Supply 3. Price Level Real 4. Gross Domestic Product

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Assume that the economy is operating in long-run equilibrium. To balance the budget, the government...

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