How do countries benefit by being members of economic communities? a. the balance of payments become equalized b. tariffs on imported goods increase, creating a higher standard of living c. domestic competitors have advantage based on price d. quotas are established to prohibit commerce and trade with non member countries eu. trade policies are coordinated and there are less restrictions on imports and exports

Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?