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Suppose a closed economy with no government spending which in equilibrium is producing an output and income of 1250.Suppose also that the marginal propensity to

Suppose a closed economy with no government spending which in equilibrium is producing an output and income of 1250.Suppose also that the marginal propensity to consume is0.80, and that, if at full employment, the economy would produce an output and income of 3850

By how much would the government need to cut taxes (T) to bring the economy to full employment?

(round your answer to the nearest whole value)

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