Write a 1000 -1200 word paper in which you address the below question. Please, format your paper according to APA guidelines (including a title page). Make sure to cite your references in a reference section
In the most recent recession of 2008-2009, the US saw a declining GDP, rising unemployment, and sometimes deflation. Please, describe these variables during the recession and in the following years. What type of fiscal and monetary policy is appropriate to fight the recession? Analyze, using the Phillips curve and theory. Research and describe some of the policies that were used by the US government and central bank. Were these policies successful?