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10 cards from this deck
Govt measures to improve productive potential & shift LRAS right
Improving competitiveness & efficiency of markets
Policies that free up markets & promote competition
Govt intervenes to correct market failures
Shifting ownership from state to private sector
Tax revenue changes as average tax rate increases
Reduces it by shifting labour demand & supply curves
Cut production costs & reduce cost-push/demand-pull pressures
Creates 'lean & fit' firms with better quality goods
At high wages, workers supply less labour (prefer leisure)
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