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Question 76 (1 point) During the 2020 campaign, Joe Biden proposed raising income taxes on those earning more than $400,000 per year and raising

Question 76 (1 point) During the 2020 campaign, Joe Biden proposed raising income taxes on those earning more than $400,000 per year and raising corporate taxes from about 21 percent to 28 percent. Consider the aggregate demand-aggregate supply diagram below, which represents the macroeconomy. Suppose the market is initially at an equilibrium at point A. What effect will a tax increase have on this economy? Price level IRAS SRAS KY C

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