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FEEDBACK Content attribution QUESTION 50 - 1 POINT Which of the following best describes contractionary fiscal policy? Select the correct answer below: O action that increases the level of aggregate demand, either through increases in government spending or cuts in taxes O action that decreases the level of aggregate demand, either through cuts in government spending or increases in taxes the total accumulated amount the government has borrowed, over time, and not yet paid back when the federal government spends more money than it receives in taxes in a given year FEEDBACK Content attribution SUBMIT