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What happens to gdp and p

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Reference no: EM133125950

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: EM133125950

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