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The economy of Utopia is described by the following equations. C = 10 + 0.8 (Y - T) IP = 20 G = 40 X = 30 T = 10 + 0.2Y M = 0.1Y Y* = 207(iii) Suppose the government is concerned about the size of the budget deficit. It decides to reduce autonomous taxes by 20 and at the same time reduce government spending by 20. Is this an effective fiscal policy response to the fall in exports? Explain your answer. (1 mark)