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Government intervention in response to the pandemic impact on the economy: a. Is a Keynesian fiscal response; however, the monetary policy is much more cautious
Government intervention in response to the pandemic impact on the economy: a. Is a Keynesian fiscal response; however, the monetary policy is much more cautious and is driven by neo-classical theory. b. Will (hopefully) result in a shift to the right of both the AD and the AS curve. c. Is limited by federal rules that the budget deficit cannot be increased d. Is only trying to help individual consumers; businesses are not receiving any government assistance because they are supposed to be ready and able to withs
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