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How fiscal and monetary policy can address

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Suppose there is a recessionary gap Explain what this means using theAD / (AS) model then describe the fiscal policy and monetary policy measures can address the and comment on any drawbacks to this 2.) Suppose instead there is an inflationary gap Explain what this means using the AD/AS model, then describe how fiscal and monetary policy can address the issue and comment on any drawbacks to this solution.

Reference no: EM132506390

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