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Dodd-Frank Act
the primary regulatory response to the financial turmoil that contributed to the Great Recession
Macroeconomic policy
encompasses government acts to influence the macroeconomy
Fiscal policy
comprises the use of government's budget tools, government spending, & taxes to influence the macroeconomy
Monetary policy
involves adjusting the money supply to influence the macroeconomy
Classical economists
stress the importance of aggregate supply & generally believe that the economy can adjust back to full employment equilibrium on its own
Keynesian economists
stress the importance of aggregate demand & generally believe that the economy needs help in moving back to full employment equilibrium
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