Question
President Biden's $1.9 trillion Covid-19 relief package was financed entirely with borrowed money...Discuss three of the major provisions of this legislation. Analyze how this fiscal
President Biden's $1.9 trillion Covid-19 relief package was financed entirely with borrowed money...Discuss three of the major provisions of this legislation. Analyze how this fiscal policy that Congress has enacted affects U.S. economic growth, unemployment, Federal budget deficits, and inflation in the context of our basic macroeconomic model.Explain your reasoning carefully.Assume initially that actual output is ten percent below potential output and show both the short run and long run adjustment in a well-labeled aggregate demand - aggregate supply graph.
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