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The establishment of a new government affect the economy in various ways. Explain how the economy gets affected by it.
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- Why is government spending typically measured as a percentage of GDP rather than in nominal dollars?What are the short-run and long-run implications when it comes to government spending changes versus tax changes?What percentage of the economy was the of the economy was the Federal Government responsible for in 1920? Today?
- Elaborate on the different roles of government in the economy and how the economy affects the government. Be sure to provide specific examplesExplain whether the given statement is correct or incorrect. Government plays a important role in an economy.What are the Reason that affect the increasing purchase of goods and services in the government of country?