Federal government increased government spending

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In 2015, the U.S. federal government increased government spending (G) by $56 billion. This question has you both illustrate and explain the short- and long-run effects of these fiscal adjustments.

(a) In terms of the short run model, how did the increase in G impact the other componentsof spending (C, I , and NX)?

(b) In terms of the basic growth (Solow) Model, what does the increase in G mean for economic growth? Be clear.

Reference no: EM13984366

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