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Given an open economy with high capital mobility and fixed exchange rates, suppose an expansionary fiscal policy is implemented to combat recession.The initial and secondary effects of the policy cause aggregate demand to increase, thus strengthening the policy's expansionary effect.
Observational Learning
A learning process through observing and imitating others' behaviors, actions, or outcomes.
Dessert
Dessert is a course that concludes a meal; it typically consists of sweet foods, such as confections, or possibly a beverage like dessert wine or liqueur.
Thunder
The loud sound that follows a flash of lightning, caused by the rapid expansion of heated air in the atmosphere.
Cognitive Processes
The mental activities involved in the acquisition, processing, and storage of knowledge, such as perception, memory, and reasoning.
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