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{"ops":[{"insert":"Assume the economy is in a recession. Explain how each of the following policies would affect consumption, investment and national income (GDP). In each case, indicate any direct effects, any effects resulting from changes in the macroeconomic variables and the overall effect in the economy. If there are conflicting effects making the answer ambiguous, say so.\na)\u00a0\u00a0\u00a0\u00a0How fiscal policy influences aggregate demand and how these can be used to expand the economy? \nb)\u00a0\u00a0\u00a0\u00a0How monetary policy influences aggregate demand and how these can be used to expand the economy?\n\n"}]}
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