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Attempt to briefly explain the great recession according to each of the following four business cycle...

Attempt to briefly explain the great recession according to each of the following four business cycle theories:

1.     New Keynesian

2.     Real Business Cycle Theory

3.     Monetarist

4.     Austrian School

Use each of the four model perspectives to answer the question: how did this all happen?  In your view, was an appropriate Fiscal and Monetary Policy Response followed?

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