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The IS-LM model simultaneously determines equilibrium in two markets.
a. Which two markets?
b. What two variables adjust to bring equilibrium in the markets?
Reasoning Skills
The cognitive abilities that enable individuals to analyze information, solve problems, and make logical decisions.
Short-term Memory
The part of the memory system where small amounts of information can be stored for a brief period of time.
Information-processing Theorists
Researchers who study how human beings take in, utilize, store, and retrieve information, emphasizing the mental processes involved in cognitive development.
Theory Construction
is the process of developing a systematic framework of concepts and propositions intended to explain specific phenomena or guide research and practice.
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