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Contractionary fiscal policy is so named because it:
Personal Importance
The degree to which something holds significant value or relevance to an individual's life or self-concept.
Lay Epistemology
The way in which ordinary people form beliefs, understandings, and knowledge about the world around them.
Preexisting Beliefs
Preconceived notions or assumptions held before receiving new information.
Rational Assessment
The process of evaluating situations, propositions, or decisions based on logical reasoning and evidence.
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