Question: The article can be located here frbsf.org then type The COVID-19 Fiscal Multiplier: Lessons from the Great Recession https://www.frbsf.org/economic-research/publications/economic-letter/2020/may/covid-19-fiscal-multiplier-lessons-from-great-recession/ Please answer this question that are

The article can be located here

frbsf.org then type The COVID-19 Fiscal Multiplier: Lessons from the Great Recession

https://www.frbsf.org/economic-research/publications/economic-letter/2020/may/covid-19-fiscal-multiplier-lessons-from-great-recession/

Please answer this question that are economic based:

  1. According to the article, why is the MPC higher for"liquidity-constrained" householdscompared to those that have liquid assets or can easily borrow when needed? [7]

Answer:

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