Explain the effect of each of the following events on the quantity of U.S. real GDP demanded
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Explain the effect of each of the following events on the quantity of U.S. real GDP demanded and the demand for U.S. real GDP:
- The world economy goes into a strong expansion.
- The U.S. price level rises.
- Congress raises income taxes.
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The world economy goes into a strong expansion As the world economy goes into a strong ex...View the full answer
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