Question
Can anybody help with these questions? I'm having a hard time with them especially with graphs. For the questions below, describe the explanation of the
Can anybody help with these questions? I'm having a hard time with them especially with graphs.
For the questions below, describe the explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD or AS), the direction of the shift (left or right), and the impact on output and price level (increase or decrease) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario.
1. In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
2. A new law requiring all businesses to provide health care for their employees is signed by
the President.
3. Foreign buyers rush to purchase American-made electronics.
4. Tourists flock to visit the major theme park's in Orlando, Florida.
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