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Unformatted text preview: rates and is controlled by the Federal Reserve. Both policies are intended to achieve macroeconomic objectives. 1.3) A) Federal purchases require that the government receives a good or service in return, whereas federal expenditures include transfer payments. B) As a percentage of GDP, federal purchases have decreased since 1960. C) As a percentage of GDP, federal expenditures have increased since 1960....
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- Fall '10
- Fiscal Policy