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Suppose a government decides to increase taxes. 30.Using the long-run model of the economy, graphically illustrate the impact of on GDP. Be sure to label

Suppose a government decides to increase taxes.

30.Using the long-run model of the economy, graphically

illustrate the impact of on GDP. Be sure to label the axes, the curves, the initial equilibrium values, the direction curves shift, and the terminal equilibrium values.

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