Which country will suffer the greatest decline in employment

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Reference no: EM13180219

Suppose that two economies initially have the same level of real income and both suffer unanticipated declines in their sales of exports of $50 billion. Country "A" has higher tax rates and a higher level of government spending than economy "B". Otherwise, the two economies are similar in every respect. Which country will suffer the greatest decline in employment as a result of the decline in exports?

Reference no: EM13180219

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