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Specification: 

  • Monetary and Fiscal Policy

Click to read the article below and then answer the questions:

Joe Biden’s $1.9tn package is a risky experiment

  • Distinguish between narrow money and broad money

  • With reference to the chart, compare the growth of the broad money supply over the time period shown

  • Explain why Covid-19 has caused ‘explosive growth of US broad money supply’

  • Evaluate the extent to which extraordinary growth of the broad money supply combined with huge fiscal expansion will overheat the US economy

Gavin Clarke, Emmanuel College

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