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Suppose the government is considering a tax policy that will reduce taxes by $100. In the economy, household consume 80% of each additional dollar earned. Assume that the tax cut has no effect on GDP (Y)
(a) How will this tax affect consumption?
(b) Calculate the change in private savings.
(c) Calculate the change in government savings and national savings
(d) What will happen to the current account as a result of this policy?
(e) How would your previous answers change if we assume Ricardian equivalence?
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The expansion will cost $60 million and will be financed with $40 million in new debt initially with a constant debt equity ratio maintained thereafter.
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The craft unions electricians, carpenters, other possess considerable power to raise wages than do industrial unions automotive workers, steel workers.
Determine what fiscal policy measure has a more direct impact to the economy, an increase in government spending or an equal decrease in taxes if consumer confidence is lower than the previous month. Explain your reasoning.
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