How taxes generally impact aggregate demand-aggregate supply

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Reference no: EM134035830

Assignment:

1. Using a diagram showing consumer and producer surplus, show generally how taxes impact consumer and producerwelfare. Remember to highlight the deadweightloss (DWL ) to your audience.

2. Then extend this to the macroeconomy by showing how taxes generally impact aggregate demand and aggregate supply (AD-AS).

3. Using an ADAS model, can you answer whethera tax thatimproves people's health could have any potential long-term benefits for the economy.

4. Finally, briefly discuss how you could use an empirical econometric model to assess the health and economic growth consequences of a 'fat tax'.

Reference no: EM134035830

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