Suppose an increase in oil prices puts the economy in recession. Either fiscal policy or monetary policy could be used to eliminate the recession. In terms of the short-run impact on output and prices, is there any difference between the two?

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The Answer of Suppose an increase in oil prices puts the economy in recession. Either fiscal policy or monetary policy could be used to eliminate the recession. In terms of the short-run impact on output and prices, is there any difference between the two?

Suppose an Increase in Oil Prices Puts the Economy in Recession