Substitute Fiscal Policies. In the story that opened this chapter, we saw that China and the U.S. had more aggressive stimulus policies than France and the United Kingdom. But China and the U.S. also...

Substitute Fiscal Policies. In the story that opened this chapter, we saw that China and the U.S. had more aggressive stimulus policies than France and the United Kingdom. But China and the U.S. also have a lower level of government spending as a share of GDP compared to those other countries. If we assume that the level of government spending as a share of GDP is a good proxy for the size of automatic stabilizers, can you give an explanation of why France and the United Kingdom had smaller stimulus plans?