10. The economy is in a recession, and the recessionary gap is large. a. Describe the discretionary...
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10. The economy is in a recession, and the recessionary gap is large.
a. Describe the discretionary and automatic fiscal policy actions that might occur.
b. Describe a discretionary fiscal stimulus package that could be used that would not bring an increase in the budget deficit.
c. Explain the risks of discretionary fiscal policy in this situation.
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