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An important issue raised after the financial meltdown in 2008 and the resulting recession has been how to deal with the recession. The economic stimulus policies of cutting taxes and increasing government spending contributed to a very large increase in the federal government's deficit. As a result, the recession moderated, and economic growth replaced the falling gross domestic product (GDP). During this period, a debate began in the United States that the size of government had gotten too large and therefore that spending should be cut. Discuss the positive and normative economic issues presented.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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