1.2.2 Some economists argue that the animal spirits of investors are so important in determining the level...
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1.2.2 Some economists argue that the “animal spirits” of investors are so important in determining the level of investment in the economy that interest rates do not matter at all. Suppose that this were true, that investment in no way depends on interest rates.
a. How would Figure 26.4 be different?
b. What would happen to the level of planned aggregate expenditure if the interest rate changed?
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Related Book For 
Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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