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Directions: Please write a 700-1,000 word paper in which you address the questions below. Also, please do your best to format your work accordingly and to cite any references you might use.
In the most recent recession of 2008-2009, the United States saw a declining GDP, rising unemployment, and sometimes deflation. Please describe these variables during the recession and in the following years. What type of fiscal and monetary policy is appropriate to fight the recession? Analyze, using the Phillips curve and theory. Research and describe some of the policies that were used by the U.S. government and central bank. Were these policies successful?
