Question: By using AD-AS (upward sloping) and Phillips Curve analysis, explain what happens to output and price level as well as unemployment and ination rates for

By using AD-AS (upward sloping) and Phillips Curve analysis, explain what happens to output and price level as well as unemployment and ination rates for each of the situations listed below: a) The government increases the tax. rate for individual income from 10% to 12% in order to discourage households' spending. b) Central Bank decreases the required reserve ratio

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