university of notre dame Ricardian Equivalence, a change in Tt, with no change in current or future govern- ment spending, should: (a) Have the same effects on the equilibrium as a change in Gt (b) Have the same effects on the equilibrium as a change in Tt+1 (c) Have no effect on the equilibrium X (d) Have the same effects on the equilibrium as a change in Gt+1 Without changes in Gt nor Gt+1, the change in present taxes must be met by offsetting changes in future taxes. This is a wash for the equilibrium