An article in the Wall Street Journal in 2015 noted that an official of the European Union

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An article in the Wall Street Journal in 2015 noted that an official of the European Union was forecasting that "Greece faces two years of recession amid sharp budget cuts." What typically happens to a government's budget deficit during a recession? Do governments typical respond with budget cuts as the Greek government did? Briefly explain.
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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