(Answered) Assume you are a social planner who can control the fiscal

Management Studies

Assume you are a social planner who can control the fiscal policy.

What is fiscal policy?
Describe and define the equilibrium in the short run. Denote vertical and horizontal axis as well as each graph.
Assume that the household wealth rises while the price level is constant. Illustrate the result on the graph. Clearly show the changes in equilibrium.

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