Some Economists Argue That Policymakers Can Use Monetary and Fiscal

question 139

Essay

Some economists argue that policymakers can use monetary and fiscal policy to reduce the severity of economic fluctuations. What are some things policymakers can do to boost the economy when aggregate demand is inadequate to ensure full employment?

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Definitions:

Globalization

The process of transformation of local or regional phenomena into global ones, involving the interconnectedness of economies, societies, and cultures across the world.

Global North

Wealthy, industrialized countries in the northern hemisphere (previously referred to as the First World).

Global South

Term used to describe countries and regions located primarily in the southern hemisphere, often focusing on those with developing or underdeveloped economies, highlighting global inequities.

Wal-Mart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.