Suppose in the past several months a nations government has raised and lowered its expenditures a number
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Suppose in the past several months a nation’s government has raised and lowered its expenditures a number of times. Using the concept of bounded rationality (the idea that people are nearly, but not fully, rational so they use rules of thumb to make decisions rather than examining every choice available to them), is the government likely to be able to boost real GDP with an increase in government spending?
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