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Explain the following: AD function with G & T Disposable income (Yd) Fiscal policy expansionary & contractionary AD model impacts

Explain the following:

AD function with G & T

Disposable income (Yd)

Fiscal policy – expansionary & contractionary

AD model impacts of fiscal policies

Spending, Tax, and Balanced Budget Multipliers

Automatic stabilizers

Discretionary policy

Deficit, Surplus (Budget)

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