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If the government raises taxes on labor income and interest income, explain how potential

If the government raises taxes on labor income and interest income, explain how potential GDP and economic growth are affected.

 

11) What is the difference between discretionary fiscal policy and automatic fiscal policy?

 

12) What is automatic fiscal policy? How does it affect the budget deficit and/or budget surplus during a recession and during an expansion?

Dec 08 2019 Read more Less More

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