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In the new Keynesian view, monetary policy has its main effect on output through the impact of interest rate changes on aggregate demand. In the new Keynesian view, in which of the following countries would an increase in interest rates have the greatest effect on aggregate demand in the short run: (a) Slobovia, which has a large trade sector and where businesses and firms rely heavily on short-term borrowing; or (b) Outlandia, which has a small trade sector and where little use is made of short-term borrowing?
Base Pairs
The pairs of nucleotides (adenine with thymine, and cytosine with guanine) in DNA that form the rungs of the double helix structure, fundamental for DNA replication and genetic information.
Catastrophism
The idea that Earth’s geological features are the result of sudden, short-lived, violent events, contrary to gradualism.
Great Flood
A mythical or historical event featured in various cultures' lore involving a catastrophic deluge that covers the Earth or a significant portion of it.
Book of Genesis
The first book of the Bible and the Torah, outlining the creation of the world and the early history of humanity according to Jewish, Christian, and Islamic traditions.
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