Explain the following: a) Why do we call proportional income taxes and the welfare system \"automatic stabilizers\"? Choose one of these mechanisms and explain careilly how and why it affects uctuations in output. b) What happens to the size of multiplier if we consider progressive tax system? Explain using formulas. What kind of an impact will it have on the slope of AE schedule and S&T schedule? Use diagrams. c) What is full employment balanced budget? Is it a more useful measure than unadjusted balanced budget? Carefully explain