Question about the 2007/2009 recession
Following the recession years of 2007/2009, California faced a big drop in state taxes and responded with fiscal policies (it shut down state parks, increased tuition and fees in State and Community Colleges, laid off workers, and postponed projects). Some have argued that the State should have increased taxes on the rich and big business (fiscal policy). Others, have argued that the State should have sold bonds (monetary policy).
a. What do think would have been the best (of the three possibilities)?
b. Explain