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Draw an sras-ad graph and shift

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Reference no: EM133125206

a. What would happen to economic growth if the government decides to significantly reduce its expenditures?

b. Draw an SRAS - AD graph and shift the appropriate curve to illustrate. (Do not draw the LRAS.)

c. Label all axes, curves and equilibrium points.

d. What happens to GDP and P?

* Always label all axes, curves and equilibria. Graphs need brief verbal explanations; they are not self explanatory.

Reference no: EM133125206

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