Q. Illustrate what is the difference between contractionary and expansionary fiscal policy? Illustrate what are the pros and cons of using expansionary and contractionary fiscal policy tools under the following scenarios: depression, recession, and robust economic growth? Which do you think is more appropriate today?
Q. The price for a product increases from 0.75 to 1.00 while at the same time sale quantity of the product drops from 200 to 100 units per week then price elasticity of demand is