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Automatic stabilizers tend to exaggerate the severity of business cycles.
Constitution
Core guidelines or traditional practices based on which a country or any organization operates.
Civil Liberties
Civil liberties are individual rights protected by law from governmental interference, such as freedom of speech and the right to privacy.
First 10 Amendments
The First 10 Amendments, known as the Bill of Rights, comprise the initial changes to the U.S. Constitution, guaranteeing fundamental rights and protections to American citizens.
U.S. Constitution
The paramount legal document in the United States which delineates the structure of the national government and the essential liberties of its inhabitants.
Q2: In the short-run velocity is not constant.
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