(a)[3]
State what is meant by ‘a recession’ in economics.
(b)[5]
Analyse why governments borrow and why it is said that a government should increase spending in a recession.
(c)[6]
Consider the meaning of the phrase ‘government borrowing could ‘crowd out’ the private sector.’
(d)[6]
Assess whether the evidence in the article provides a conclusive case that the high level of government borrowing is an effective policy.