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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Related Book For  book-img-for-question

Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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