How does an increase in G affect the economy

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Reference no: EM13837808

Please write in some detail on all of the followings:

1. How does an increase in G affect the economy? Please show it using AD/AS frameowrk.

2. How does an increase in income tax rate affect economy? Please show it using AD/AS frameowrk.

3. Expansionary fiscal policy: what does it mean? How does it work?

4. Contractionary fiscal policy: what does it mean? How does it work?

5. Please distinguish between discretionary and automatic fiscal policy.

Reference no: EM13837808

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