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Explain how a deficit is financed. What is the national debtLinks to an external site. , about how much is it, and who is it

Explain how a deficit is financed. What is the national debtLinks to an external site., about how much is it, and who is it owed to? What is the Federal ReserveLinks to an external site., and why was it created? What is monetary policyLinks to an external site. and how can it be used to combat inflation or unemployment? Why is monetary policy frequently not very effective at combating recessions?

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