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The Minister of Finance tries to balance the budget by cuttinggovernment spending

The Minister of Finance tries to balance the budget by cuttinggovernment spending



for each of the events below,• determine the short-run effects on output•
determine how the Bank of Canada should adjust the money supply to stabilize output (assume the economy is closed)

1) The Minister of Finance tries to balance the budget by cuttinggovernment spending
2) A stock market boom increases household wealth.
3) War breaks out in the Middle East, causing oil prices to soar.

Johnson 09-Nov-2017

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