Economics 9708 · AS & A Level · Fiscal policy

Fiscal policy — practice question

The diagram illustrates several expenditure functions. The initial expenditure function is represented by E. The government announces that it will cut government expenditure on goods and services and lower the standard rate of income tax. Which line indicates the new expenditure function that results from these changes?

  • AE1
  • BE2
  • CE3
  • DE4

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