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If the MPC is 0.6, and the government increases its spending by $300b, the overall effect on GDP will be:
Nominal Rate
The interest rate as stated without adjusting for inflation, representing the face value of financial transactions.
Interest
The cost of borrowing money or the return on investment; it is typically expressed as a percentage of the principal amount.
Cyclical Unemployment
Unemployment that arises during periods of economic downturns or recessions, associated with the business cycle.
Unemployment Rate
The percentage of the labor community that is jobless and in active pursuit of employment.
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