Calculate both the tax revenue required to gen erate the surplus budget shown and the change in national income that will result in each of the three cases in the following table.
Answer to relevant QuestionsThink in terms of world superpowers, today and centuries ago. Who were they then? Who are they now? When did the change occur? What is meant by efficiency gains? How does it affect labor productivity? Give an example. Are Visa and MasterCard part of M1? Why or why not? Explain how a new demand deposit of $100 can potentially create $500 of new money if the legal reserve requirement is 20 percent. What is the discount rate, and how can the Fed use it to control the nation's supply of money?
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