Chapter17: Federal Deficits, Surpluses, And The National Debt
Section17.1: The Federal Budget Balancing Act
Problem 1YTE
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a) Define what are expansionary and contractionary discretionary fiscal policies.
b) Define what is automatic stabiliser in fiscal policy and provide 2 examples.
c) Consider an economy that is operating below the full-employment level of GDP, what would be the effect of an increase in government spending on agreegated
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