First,briefly Explain Why the AD Curve Is Downward Sloping in a Closed

question 17

Essay

First,briefly explain why the AD curve is downward sloping in a closed economy.Second,briefly explain why the AD curve is downward sloping in an open economy under fixed exchange rates.And finally,briefly compare the size of the slopes of the two AD curves.

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Definitions:

Vroom-Jago Contingency Variables

Factors that influence the effectiveness of decision-making processes, based on the Vroom-Yetton-Jago decision-making model of leadership.

Decision Significance

The importance or impact that a decision has, often measured by the potential consequences or outcomes associated with making different choices.

Leader Expertise

The knowledge and skills that make an individual effective in guiding and influencing others towards achieving goals.

Team Support

Assistance and resources provided by a group to its members to achieve common goals and deal with challenges.