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
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 IS curve be different during expansions than during recessions? Illustrate your answer by drawing an IS curve graph.
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Authors: R Glenn Hubbard ,Anthony Patrick O'Brien
1st Edition
013255352X, 978-0132553520
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