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CMA1.A9.a. define fiscal policy and distinguish discretionary from non-discretionary fiscal policy CMA1.A9.b. identify the tools of fiscal policy CMA1.A9.c. infer the macroeconomic consequences of both expansionary and contractionary fiscal policies, including the effect on aggregate demand when the level of government spending and/or taxes are changed CMA1.A9.d. interpret the graphical representation of expansionary and contractionary actions CMA1.A9.e. explain the effects of changes in taxation policies, including the effect on the distribution of income and the effect on resource al