Government revenue and expenditures

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Government Revenue and Expenditures

1. Identify the main sources of revenue for and the largest expenditures made by federal,

2. Identify the main sources of revenue for and the largest expenditures made by state,

3. Identify the main sources of revenue for and the largest expenditures made by local governments.

Similar to the market supply and demand model, which addresses price and quantity, when the price level in the aggregate supply and demand model increases, there is a movement along the aggregate demand curve. The quantity of real GDP demanded decreases in response to an increase in the price level. However, the aggregate demand curve does not shift.

4. Give examples of factors that decrease aggregate demand.

5. Which way does the aggregate demand curve shift?

Reference no: EM133101235

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