Refer to the information provided in Table 24.8 below to answer ...

[silviawilliams41]

Question 1

Refer to the information provided in Table 24.8 below to answer the question(s) that follow.








Refer to Table 24.8. If taxes are reduced from $100 billion to $50 billion, the new equilibrium level of output is

◦ $4,050 billion.
◦ $3,850 billion.
◦ $2,100 billion.
◦ $1,600 billion.

Question 2

Refer to the information provided in Table 24.8 below to answer the question(s) that follow.








Refer to Table 24.8. If taxes are reduced by $50 billion and government spending is reduced by $50 billion, the new equilibrium level of income

◦ is $3,550 billion.
◦ is $3,350 billion.
◦ is $1,600 billion.
◦ cannot be determined from this information.

[underwood14]

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[silviawilliams41]

Thanks for the timely response, appreciate it

[juliaf]

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