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The Aggregate-Demand Curve Is Downward-Sloping Because of Pigou's Wealth Effect

question 7

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The aggregate-demand curve is downward-sloping because of Pigou's wealth effect, Keynes's interest-rate effect, Mundell-Fleming's exchange-rate effect and Veblen's envy effect.


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World's Exports

The total value or volume of goods and services sent from one country to be sold in another.

Internationalization Process

The strategic process businesses undergo to expand operations and market presence across international borders, adapting to different cultural, legal, and economic systems.

Direct Foreign Investment

Investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country.

International Joint Ventures

Collaborative enterprise agreements between two or more companies from different countries, aiming to achieve specific business goals.

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