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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
Principal Debtor
The main individual or entity obligated to repay a debt or loan in the terms of a financial agreement.
Principal Debtor
The main individual or entity legally obligated to repay a debt or loan in accordance with the terms of the agreement.
Guarantor
An individual or entity that agrees to be responsible for another's debt or performance under a contract if the original party fails to meet their obligations.
Obligor
A person who is bound by a promise or other obligation; a promisor.
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