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Q1. Your grandparents tell you which in 1960 they paid $0.35 for admission to a movie. The price index in 1960 was 30. The price index today is 171. Illustrate what is the price your grandparents paid in today's dollars?

Q2. Assume which GDP is in equilibrium at its full-employment level. The federal government decides to increase its expenses by $15 billion. Fearing inflation, it wants to increase taxes so which the net change in the equilibrium level of GDP is zero. By Elucidate how much taxes should be increased?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9165919

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