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Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702 Exercise 2
The expiration of the FICA payroll tax cut of January 1, 2013 raised taxes by $110 billion per year. If the marginal propensity to save was 0.20, ( a ) by how much did consumer spending decrease initially? ( b ) What was the ultimate decline in aggregate demand?
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Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
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