While there are intense debates among macroeconomists regarding the effectiveness of expansionary fiscal policy during a severe recession, both the keynesian and non-keynesian economists agree that fiscal policy is subject to some limitations as a stabilization tool. which of the following issues do most macroeconomists widely agree upon? check all that apply. the use of the federal budget as an automatic stabilizer can to smooth business cycle fluctuations. the federal government should balance its budget each year, regardless of the state of the economy. discretionary fiscal policy can be counterproductive because of policy lags.