Suppose that, during a recession, the government borrows money to providefeed subsidies to cattle farmers. Which of the following statements are correct? Choose one or more:

A. Thefeed subsidies to cattle farmerswill likely raise interest rates as the government borrows more money to finance the purchase.

B. The government is engaging in contractionary fiscal policy.

C. The provision offeed subsidiesis an example of an automatic stabilizer.

D. This policy will likely be accompanied by an impact lag as the policy takes time to make its way to the people.

E. Crowding-out will occur as individuals choose to rely onfeed subsidiesinstead of purchasing their own.