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3. Expansionary fiscal policy: a. Decreases aggregate expenditure and equilibrium GDP. b. Occurs when the government cuts taxes and/or increases spending. c. Occurs when the

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3. Expansionary fiscal policy: a. Decreases aggregate expenditure and equilibrium GDP. b. Occurs when the government cuts taxes and/or increases spending. c. Occurs when the government increases taxes and cuts spending. d. Occurs when the government cuts taxes by less than it cuts spending

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