Economics · Public Finance and Fiscal Policy
In macroeconomic policy, public expenditure is heavily used as a 'compensatory expenditure' primarily during which economic phase?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Normal balanced budget periods
- 2Period of consistent steady-state growth
- 3Period of depression or recession✓
- 4Period of hyper-prosperity
Correct answer
Period of depression or recession
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