Examlex
What is the main difference between the IS-LM model and David Romer's IS-MP model?
Economic Expansion
A phase of the business cycle during which the economy grows, characterized by increased output, employment, and consumer spending.
Laissez-faire Approach
An economic philosophy of minimal governmental intervention in the market and the operations of businesses.
Technological Progress
Advances in technology that improve production efficiency, product quality, and innovation across sectors.
Roosevelt Administration
Refers to the period of Franklin D. Roosevelt's presidency in the United States from 1933 to 1945, marked by New Deal policies aimed at economic recovery from the Great Depression.
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