Place the events in sequence to describe how crowding-out happens. a. Car manufacturers use government funding, instead of their own money, to invest in improving their machinery.
b. Because of a recession, consumers have less disposable income to spend on durable goods, like cars.
c. A state government passes a stimulus package that sends aid to struggling car manufacturing firm in the state.
d. Despite the increase in spending, aggregate demand has not increased as much as expected