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Tax and Fiscal Policy
Problems
Problem 1.1:
Define expansionary fiscal policy.
[Solution]
Problem 1.2:
Define contractionary fiscal policy.
[Solution]
Problem 1.3:
How does fiscal policy affect output?
[Solution]
Problem 1.4:
What is the equation that shows the total change in output created by a change in tax policy?
[Solution]
Problem 1.5:
What is the equation that shows the total change in output created by a change in government spending?
[Solution]
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