Suppose that IS and LM intersect at full-employment output. A leftward shift of IS will be followed by a __________ price level that shifts LM to the __________ in a return to full employment

Illustrate and explain the effects of tax reduction and simplification using the dynamic aggregate demand and supply model. To simplify the analysis, assume that aggregate demand is not affected by the tax cut

What will be an ideal response?

Total revenue can be defined as:

A. the amount that a firm receives from the sale of goods and services. B. the amount that a firm spends on all inputs that go into making a good or service. C. the total amount a firm spends on all inputs used in production. D. the total number of sales of a good or service by a firm.