![SOLVED: Suppose that the government cuts taxes in response to a recessionary gap, but because of legislative delays the tax cut is not put in place for 18 months. Assuming that the SOLVED: Suppose that the government cuts taxes in response to a recessionary gap, but because of legislative delays the tax cut is not put in place for 18 months. Assuming that the](https://cdn.numerade.com/ask_images/ff9cddca49da4c0b8133c33349b289b6.jpg)
SOLVED: Suppose that the government cuts taxes in response to a recessionary gap, but because of legislative delays the tax cut is not put in place for 18 months. Assuming that the
![SOLVED: . Initially, the economy is in long-run equilibrium. The aggregate demand curve then shifts 50 billion to the left. The government wants to change its spending to offset this decrease in SOLVED: . Initially, the economy is in long-run equilibrium. The aggregate demand curve then shifts 50 billion to the left. The government wants to change its spending to offset this decrease in](https://cdn.numerade.com/ask_previews/dd4c0362-e3d9-4da5-bf66-b394308df3d5_large.jpg)
SOLVED: . Initially, the economy is in long-run equilibrium. The aggregate demand curve then shifts 50 billion to the left. The government wants to change its spending to offset this decrease in
![a. a short-run equilibrium but not a long-run equilibrium. b. a short-run equilibrium and long-run equilibrium. c. a long-run equilibrium but not a short-run equilibrium. d. neither a short-run equilibrium nor a a. a short-run equilibrium but not a long-run equilibrium. b. a short-run equilibrium and long-run equilibrium. c. a long-run equilibrium but not a short-run equilibrium. d. neither a short-run equilibrium nor a](https://homework.study.com/cimages/multimages/16/capture2338726977227524969.jpg)
a. a short-run equilibrium but not a long-run equilibrium. b. a short-run equilibrium and long-run equilibrium. c. a long-run equilibrium but not a short-run equilibrium. d. neither a short-run equilibrium nor a
![22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/ddfaf64b36284ed41b1e01d889fabc49.jpg)
22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics
![Show the short-run impact of a $2 per unit excise tax imposed on firms in a competitive industry. (Assume the industry is in equilibrium before the tax was imposed.) How would the Show the short-run impact of a $2 per unit excise tax imposed on firms in a competitive industry. (Assume the industry is in equilibrium before the tax was imposed.) How would the](https://homework.study.com/cimages/multimages/16/short_run420009262646812617.jpg)