ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Problem 3.
Analyze the general equilibrium effects of an increase in taxes. Illustrate your answer with a
graph. Organize your answer by discussing (1) Does the change shift the IS curve and/or the
LM curve? (2) How does the change affect the equilibrium interest rate and output? (3) Describe
the effect of the change with your own words by focusing on the changes in the composition of
GDP.
Does the change shift the IS curve and/lor the LM curve?
How does the change affect the equilibrium interest rate and output?
Describe the effect of the change with your own words by focusing on the
changes in the composition of GDP.
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Transcribed Image Text:Problem 3. Analyze the general equilibrium effects of an increase in taxes. Illustrate your answer with a graph. Organize your answer by discussing (1) Does the change shift the IS curve and/or the LM curve? (2) How does the change affect the equilibrium interest rate and output? (3) Describe the effect of the change with your own words by focusing on the changes in the composition of GDP. Does the change shift the IS curve and/lor the LM curve? How does the change affect the equilibrium interest rate and output? Describe the effect of the change with your own words by focusing on the changes in the composition of GDP.
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