7.1 Fiscal Policy and Effects ⊙ Automatic stabilizer . In depression Y↓→>TR↑→C↑→AE↑→Y↑ .In flourish *Y↑→T↑→C↓→AE↓→Y个 友学经济学院7.1 Fiscal Policy and Effects  Automatic Stabilizer ❖ In depression ：  Y  → TR↑→ C ↑ → AE↑ → Y ↑ ❖ In flourish：  Y ↑ → T ↑ → C  → AE  → Y ↑