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Essay / Research Paper Abstract
A 7 page paper discussing how fiscal and monetary policy affects business activity. Both fiscal and monetary policy are effective in stimulating growth in a depressed economy, but monetary policy has the greatest immediate and short-term effect. Fiscal policy sets the nation’s tone, defining whether it is or is not friendly to business. Monetary policy affects daily decisions, however. Of the two, monetary policy is the most effective, but both work in concert together. Bibliography lists 7 sources.
7 pages (~225 words per page)
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Unformatted sample text from the term paper:
The United States enjoyed the longest period of economic expansion in history throughout most of the decade of the 1990s. A few voices were musing that perhaps
the business cycle was dead, that the old law of boom-and-bust was no longer valid. Most of those voices should have known better... Economist Paul Samuelson said the
same thing in 1969; by 1973 the United States was in deep recession that spread throughout the developed world in response to the international oil crisis of 1973-1974.
Reasonable people knew that a "correction" would be forthcoming, and the US economy was showing signs that such a correction was on the horizon.
Some believed that the fallout of the technology sector in the summer of 2000 constituted the entire correction, others believed it to be only the herald announcing the real thing
that still had not appeared. A year later, the US economy was teetering on the brink. The terrorist attacks of September 11, 2001 pushed it over the edge.
Since then, the US government has been watching the economy and striving to arrive at some stimulus package that could be workable and
achieve the desired results. The central bank has kept interest rates low, the federal government has instituted tax cuts and analysts urge consumers to spend. In essence, it
is seeking a balance between fiscal and monetary policy in order to provide growth stimulus in a recessionary economy. Governments Role and Responsibility
John Maynard Keynes maintained that it was the responsibility of the national government to take such action as might be necessary to direct the movement of the national economy (Israels