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Question 1 Explain the concepts of deflationary and inflationary gaps Question 2 Illustrate the use of expansionary monetary policy. Question 3 Illustrate the use of

Question 1 Explain the concepts of deflationary and inflationary gaps

Question 2 Illustrate the use of expansionary monetary policy.

Question 3 Illustrate the use of expansionary fiscal policy.

Question 4 Why is the policy mix of combining fiscal and monetary policy superior?

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