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Recession and Fiscal Policies
1. How is a recession defined? Is the U.S. currently in a recession? describe.
2. Assume you are an advisor to President Obama. What fiscal policies would you put in place?
Business Economics, Economics
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Assume that the hypothetical economy of Mo has 8 workers in year 1, each working 1,500 hours per year (50 weeks at 30 hours per week). The total input of labor is 12,000 hours. Productivity (average real output per hour ...
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