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Indicate whether the following statements are true, false or uncertain. In each case you must provide a brief explanation for your answer. (Marks are only

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Indicate whether the following statements are true, false or uncertain. In each case you must provide a brief explanation for your answer. (Marks are only given for your explanation your answer is correct.) Consider the following model of the IS curve without an international sector (closed economy): Consumption: C, I2 = a: E'(R, F13; > 0', Investment: 1,53 = 5: Em, F), E > I]; and Government expenditure: G, = 53?} With this formulation, the IS curve is less steeply sloped than the \"standard" IS curve discussed in class. (Hint: The answer to this question is not related to open vs close economy). Note that your answer must start with "True", \"False\" or "Uncertain", followed by a short explanation

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