The IS-LM Model Is Generally Used

question 38

Multiple Choice

The IS-LM model is generally used:

• A)only in the short run.
• B)only in the long run.
• C)both in the short run and in the long run.
• D)in determining the price level.

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Definitions:

Evolved

Refers to the cumulative changes in heritable traits of a population over successive generations, leading to biodiversity.

Acheulean Technology

A Stone Age technology characterized by distinctive oval and pear-shaped hand-axes, associated with early humans, particularly Homo erectus.

Genus Homo

The genus to which modern humans belong, characterized by higher mental faculties, upright posture, and bipedal locomotion.

Oldowan Tools

The earliest known stone tool industry, dating back to about 2.6 million years ago, associated with Homo habilis and used by early hominins for cutting, scraping, and processing animal and plant materials.