Many economists favored using discretionary fiscal policy during the Great Recession because monetary policy could not be used when interest rates were near zero.

Name: Many economists favored using discretionary fiscal policy during the Great Recession because monetary policy could not be used when interest rates were near zero.
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Question

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When interest rates are near zero, monetary policy becomes ineffective, and discretionary fiscal policy becomes an important tool for stimulating the economy.

Many Economists Favored Using Discretionary Fiscal Policy During the Great