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1.Explain the effect of restrictive fiscal policy on the level of output, prices, and interest rates for the following cases. Support your explanations with the

1.Explain the effect of restrictive fiscal policy on the level of output, prices, and interest rates for the following cases. Support your explanations with the appropriate graphs. Be sure to label all relevant curves, axes, and points for maximum credit!

a.The Keynesian AS curve case

b.The Classical AS curve case

c.The Intermediate AS curve case

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