If Low Tax Land eliminates its income tax, what then are the levels of employment and potential
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Production function Labor market Real wage rate Real GDP Quantity of labor Quantity of labor Employment (thousands of hours) (millions of (dollars per hour) 10.00 demanded supplied (thousands of hours) (thousands of hours) dollars) 18 6 15 12 10.50 12 11.00 12 12 16 15 11.50 12.00 15 18 19 18 21 22 3 21 21 12.50
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