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(1) Why do budgetary and fiscal policies formulated by The President cannot be implemented immediately? (2) What are examples of transfer payments? (3) Is unemployment

(1) Why do budgetary and fiscal policies formulated by The President cannot be implemented immediately?

(2) What are examples of transfer payments?

(3) Is unemployment an automatic stabilizer?

(4) What must banks do in the fractional reserve system?

(5) What is the money multiplier?

(6) What is the monetary base?

(7) Which components of the money supply equation the Fed can control?

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