Question: Draw a graph showing the relationship between y and g which is g(y) and y(g) curves in a y-g space suppose the government wastes a
Draw a graph showing the relationship between y and g which is g(y) and y(g) curves in a y-g space suppose the government wastes a lot of its revenue due to corrupt politicians, everything else remaining the same. Show the impact on the equilibrium using a separate graph, by explaining the possible shift(s) of the curve(s). Explain how does political corruption affect the output per capita and hence standard of living of an economy
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