Use the Figure Below to Answer the Following Question(s)

question 98

Multiple Choice

Use the figure below to answer the following question(s) . Figure 12-1
Refer to Figure 12-1. If the output of the economy is Y₁, which of the following would a new classical economist be most likely to favor?

• A) a reduction in government expenditures
• B) a reduction in taxes
• C) an increase in taxes
• D) continuation of the current tax and expenditure policies

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