what is the economic meaning of a recession?

Develop an essay discussing the fiscal and the monetary policies adopted and implemented by the federal during the Great Recession and their impacts on the U.S. economy.

The paper should be structured as follows:

1. Introduction: What is the economic meaning of a recession?

·         A brief discussion of fiscal policies

·         A brief discussion of monetary policies

3. Conclusions: Discuss the extent to which the use of demand side policies (fiscal policy and monetary policy) during the Great Recession of 2008 has been successful in restoring economic growth and reducing unemployment

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