Understanding Fiscal Policies and Economic Viewpoints

active | Asked Jun 10th 2016, 4:56PM

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1. What is the difference between contractionary and expansionary fiscal policies? Which is more appropriate today? Explain your answer. How might contractionary and expansionary fiscal policies affect your organization?

2. Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is relevant for the economy today? Why?