Prof. Lerner definition of Fiscal Policy
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Rules for fiscal policy
Lerner postulated that government's fiscal policy should be governed by three rules: The government shall maintain a reasonable level of demand at all times. If there is too little spending and, thus, excessive unemployment, the government shall reduce taxes or increase its own spending.
Answered by
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Rules for fiscal policy
Lerner postulated that government's fiscal policy should be governed by three rules: The government shall maintain a reasonable level of demand at all times. If there is too little spending and, thus, excessive unemployment, the government shall reduce taxes or increase its own spending.
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