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2. The following rules illustrate traditional economic policy theory in terms of regulating a government's economy. al If the annual growth rate is locs than 1OL.

2. The following rules illustrate traditional economic policy theory in terms of regulating a government's economy. al If the annual growth rate is locs than 1OL.

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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The following rules illustrate traditional economic policy theory in terms of regulating a government’s economy: a) If the annual growth rate is less than 1%: - If inflation is less than 3%, recommended economic policy is: - Increase welfare spending, reduce personal taxes, and decrease discount rate. - Otherwise, recommended economic policy is: - Reduce business taxes. b) If the annual growth rate is greater than 4%: - If inflation is less than 1%, recommended economic policy is: - Increase personal and business taxes, and decrease discount rate. - If inflation is greater than 3%, recommended economic policy is: - Increase discount rate. Write a program that applies these economic policy practices. More specifically, read in `growthRate` and `inflation` values and output the recommended economic policy for the given economic situation. If there is no recommended economic policy for the given economic situation, then output 'No change in economic policy'.
Transcribed Image Text:The following rules illustrate traditional economic policy theory in terms of regulating a government’s economy: a) If the annual growth rate is less than 1%: - If inflation is less than 3%, recommended economic policy is: - Increase welfare spending, reduce personal taxes, and decrease discount rate. - Otherwise, recommended economic policy is: - Reduce business taxes. b) If the annual growth rate is greater than 4%: - If inflation is less than 1%, recommended economic policy is: - Increase personal and business taxes, and decrease discount rate. - If inflation is greater than 3%, recommended economic policy is: - Increase discount rate. Write a program that applies these economic policy practices. More specifically, read in `growthRate` and `inflation` values and output the recommended economic policy for the given economic situation. If there is no recommended economic policy for the given economic situation, then output 'No change in economic policy'.
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