Some economists believe that during a recession, business demand for investment in factories, office buildings, and machinery
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Some economists believe that during a recession, business demand for investment in factories, office buildings, and machinery becomes less sensitive to changes in the real interest rate. If these economists are correct, how might the slope of the IS curve be different during expansions than during recessions? Illustrate your answer by drawing an IS curve graph.
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There is no official definition of recession but there is general recognition that the term refers t...View the full answer
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Related Book For 
Money Banking And The Financial System International Edition
ISBN: 978-1292000183
2nd Edition
Authors: R. Glenn Hubbard ,Anthony P Obrien
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