Question: From your previous course(s) in economics, do you recall the concepts of inflation, recession, growth? Marginal propensity to consume, multiplier, accelerator? Monetary policy, budget deficit,

From your previous course(s) in economics, do you recall the concepts of inflation, recession, growth? Marginal propensity to consume, multiplier, accelerator? Monetary policy, budget deficit, fiscal policy? (If you do not remember some of these concepts, quickly review them from your principles of economics text or class notes.)

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Inflation is increase in the general prices of goods and services in an economy The purchasing power of money declines as less goods and services can be purchased with every unit of the currency Reces... View full answer

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