Question
As the unemployment rate in Greece rose to 28 percent, 61.4 percent of those under the age of 25 were jobless in November 2013. However,
As the unemployment rate in Greece rose to 28 percent, 61.4 percent of those under the age of 25 were jobless in November 2013. However, there are some signs of recovery in retail sales, manufacturing activity and construction, and slight economic growth is expected in 2014. The improvement in the country's GDP in 2014 could have been due to government's fiscal policy as well as monetary policy. What types of fiscal policy and monetary policy that will help to increase a country's GDP? Illustrate your answers clearly using the Keynesian cross diagram (also known as the Expenditure-Output Model).
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