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Assume that the economy is in equilibrium when the real interest rate rises.Explain,step-by-step,how the components of expenditure adjust to bring the economy to its new equilibrium.
Medicare
A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger individuals with disabilities.
Immigrants
Individuals who move from one country to another, either temporarily or permanently, for various reasons such as employment, education, or safety, often facing legal, social, and economic adjustments.
United States
A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its strong economy, diverse culture, and influence on global affairs.
Entitlements
Government programs providing guaranteed benefits to a particular group, such as Social Security or Medicare.
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