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Consider the following news headline: "Government follows through on election promise-cuts income-tax rate by 5 percentage points." Assuming that aggregate output is demand-determined,what will be the effect of this action,all other things equal,on the AE function and on equilibrium national income?
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A company that provides money to individuals or businesses for the purpose of investment or purchase, expecting repayment usually with interest.
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A belief about the law or legal system that is not true or is based on incorrect assumptions.
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