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In a small open economy, if the government adopts a policy that lowers imports, then that policy:
Lender of Last Resort
An institution, usually a central bank, that offers loans to banks or other eligible institutions that are in financial difficulty or are considered critical to the financial system.
Joseph Stiglitz
An American economist and a professor at Columbia University, renowned for his work on income distribution, asset risk management, and globalization.
Globalization
The process of interaction and integration among people, companies, and governments worldwide, leading to increased connectivity and interdependence.
Nobel Prize-winning Economist
An economist who has been awarded the Nobel Prize in Economic Sciences, an honor recognizing outstanding contributions to the field of economics.
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Q90: Over the business cycle, investment spending _