The contemporary consensus with regard to stabilization policy is that

Question

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The contemporary consensus with regard to stabilization policy is that monetary policy is, for now, the "only game in town." This is because central banks have more flexibility to act quickly and decisively during times of economic crisis, such as by lowering interest rates, providing liquidity to financial markets, and implementing quantitative easing measures. Fiscal policy, on the other hand, relies on government action that may be slower and more politically contentious, and may also be constrained by concerns about long-term debt sustainability.

The Contemporary Consensus with Regard to Stabilization Policy Is That