Using the AD/AS model, explain how each of the following hypothetical Government policies would affect output and prices in Kenya: i. A tax credit on education, training and skills development ii. A tax increase on imports of crude petroleum oil iii. Intensive campaign to make the business environment more friendly.
Using the AD/AS model, explain how each of the following hypothetical Government policies would affect output and prices in Kenya: i. A tax credit on education, training and skills development ii. A tax increase on imports of crude petroleum oil iii. Intensive campaign to make the business environment more friendly.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Using the AD/AS model, explain how each of the following hypothetical Government
policies would affect output and prices in Kenya:
i.
A tax credit on education, training and skills development
ii.
A tax increase on imports of crude petroleum oil
iii.
Intensive campaign to make the business environment more friendly.
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