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To evaluate such argument, consider the following. Suppose overall income in the economy,r is $19 trillion and suppose the average tax rate is 15%, in this case, government revenues would be a. Government revenues = 19300300300300'l 15% = $2 850300300300 Suppose average tax rates decrease to 10% and as a result of the decrease in taxes, overall income increases to $22 trillion, estimate the new 1}. Government revenues = 10% '3 22300300300300 = $2,200,000300300 c. 111115 in this example, as taxes decrease, government revenues increase (increase or fall) d. In this example, in order for government revenues to increase as a result of the decrease in taxes, overall income in the economy.r would have to increase to at least 3 trillion, in other words, in order to increase tax revenues, the minimum overall income growth would have to be %.. Suppose that concerned about the US deficit and debt, Congress and the President decide to lower expenditures, according AS-AD model, a. GDP would b. Suppose the decrease in expenditure is $250 billion dollars and that consumers normally save $0.15 out of every extra dollar earned, consequently, we would expect AD to shift (right or left) by $