Question: 1. Explain how the equilibrium Output is determined utilizing the Income Approach, Commonly called: The Income and expenditure Approach: The Keynesian cross explanation. Use graphs

1. Explain how the equilibrium Output is determined utilizing the Income Approach, Commonly called: The Income and expenditure Approach: The Keynesian cross explanation. Use graphs and explanations appropriately.

2. Define the Tax Multiplier and the Balanced Budget Multiplier.

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