In 2017, the government passed a series of large tax cuts when the economy was at or
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In 2017, the government passed a series of large tax cuts when the economy was at or near full employment. That is, the economy was producing a value of Real GDP close to or equal to Potential GDP. What is the likely consequence of this fiscal policy?
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The likely consequence of implementing large tax cuts when the economy is already at or near full em...View the full answer
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Related Book For 
Principles Of Macroeconomics
ISBN: 9781292303826
13th Global Edition
Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster
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