MICROECONOMICS
5th Edition
ISBN: 9781319395018
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 1, Problem 13P
To determine
Time Geithner, a former U.S Treasury Secretary, has said, “the recession that began in late 2007 was extraordinary severe. But the actions we took at its height to stimulate the economy helped arrest the free fall, preventing an even deeper collapse and putting the economy on the road to recovery”. Which two of the three principles of economy of economy-wide interaction are at work in this statement?
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