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"Education is the most powerful weapon which you can use to change the world”
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Discussion 7.2

Discussion 7.2

Q Referring to past economic downturns, such as the Great Recession of 2008-2009, plan to address the following issues that are important for junior staff members with limited training in macroeconomic issues or policy to understand: • Background and context of the recession beginning in 2020, addressing anticipated effects on: o Components of Aggregate Demand o Multiplier Effects of Changes in Expenditure • Describe appropriate policy responses, including: o Four Tools of Monetary Policy o The Dual Mandate of the Federal Reserve

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The people all over the world faced pandemic in the year 2020. Almost every country was facing lockdown. All the firms were shut down, people were in quarantine during the time of lockdown. A huge number of people was unemployed.