Consider the economy of Arcadia Its households spend 75 of increases in their income There are no taxes and no foreign trade Its currency is the arc Potential output is 600 billion arcs If actual output is 500 billion arcs, to restore the economy to potential output the government should by 25 bil...

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Consider the economy of Arcadia. Its households spend 75% of increases in their income. There are...

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International Economics

ISBN: 978-1429278447

3rd edition

Authors: Robert C. Feenstra, Alan M. Taylor

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Consider the economy of Arcadia. Its households spend 75% of increases in their income. There are...

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