Difference between revisions of "Contractionary policy"
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==Definition== | ==Definition== | ||
Latest revision as of 17:50, 1 July 2020
Contractionary policy is a Policy that reduces aggregate demand, real income, and employment. (Cf. expansionary policy.)
Definition
According to Macroeconomics by Mankiw (7th edition),
- Contractionary policy. Policy that reduces aggregate demand, real income, and employment. (Cf. expansionary policy.)
