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Suppose that the economy can be described by a closed-economy IS-LM framework and that is in a recession. Assume that the IS curve is relatively

Suppose that the economy can be described by a closed-economy IS-LM framework and that is in a recession. Assume that the IS curve is relatively steep while the LM curve is relatively flat. If you were to advise the policymakers on which action to take, what would be your advice? Show graphically.

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