Use the following to answer questions:
Figure: Fiscal Policy I 
-(Figure: Fiscal Policy I) Look at the figure Fiscal Policy I. Suppose that this economy is in equilibrium at E2. If there is an increase in taxes_____ will shift to the _____, causing a(n) _____ in the price level and a(n) _____ in real GDP.
Definitions:
Disagreement Value
The worth of an alternative action when parties are unable to reach an agreement or negotiation impasse.
Outside Offers
Employment or contract proposals from other companies or entities that can influence an individual's current employment or negotiation position.
Sale Price
The final price at which an item is sold, often after discounts have been applied.
Non-Strategic Game
A scenario in game theory where players' choices do not impact each other, making strategy considerations unnecessary.
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