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Define the terms 'fiscal' and monetary policies State 2 fiscal policy tool and 2 monetary policy tools Explain how fiscal policies could be used to

  1. Define the terms 'fiscal' and monetary policies
  2. State 2 fiscal policy tool and 2 monetary policy tools
  3. Explain how fiscal policies could be used to reduce and end a recession
  4. Do you agree with the statement that when an economy is in decline, however, monetary policy should take a back seat to fiscal policy? Justify your answer
  5. Why is inflation viewed negatively by businesses?

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