Wartime Fiscal Expansion at Low Unemployment
While governments generally refrain from fiscal expansion during periods of very low unemployment, exceptional circumstances like war can be an exception. For instance, the United States undertook significant fiscal expansions during the later stages of World War II and the Vietnam War, even when the economy was operating with low unemployment.
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Ch.5 Macroeconomic policy: Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
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Wartime Fiscal Expansion at Low Unemployment
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