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Q1. Define fiscal policy and its key objectives. What government agencies are responsible for making decisions on fiscal policy actions

Q1. Define fiscal policy and its key objectives. What government agencies are responsible for making decisions on fiscal policy actions and implementations?
Q2. Describe briefly the short-run and long-run effects of the rising budget deficit and public debt. What is the crowding out effect? Why has the US economy seldom been faced with the crowding out effect in recent decades despite the skyrocketing budget deficit and public debt?

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