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Which of the following is NOT an explanation for the shape of the aggregate demand curve?
Debt Securities
Financial instruments representing a loan made by an investor to a borrower, typically involving periodic interest payments and the return of the principal at maturity.
Life Insurance Reserves
Funds that life insurance companies are required to set aside to ensure they can meet future obligations to policyholders.
Pension Reserves
Funds set aside by an organization to meet future pension liabilities for its employees.
Money Market Securities
Short-term financial instruments that are considered relatively safe and liquid, including treasury bills, certificates of deposit, and commercial paper.
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