ECONOMICS
AGGREGATE DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If personal taxes were decreased and resource productivity increased simultaneously, the equilibrium
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output would necessarily rise.
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output would necessarily fall.
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price level would necessarily fall.
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price level would necessarily rise.
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Explanation:
Detailed explanation-1: -If personal taxes were decreased and resource productivity increased simultaneously, the equilibrium output level will necessarily rise because tax is the amount which government collects from their citizens for the economic activities and make resources more productive.
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