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The LM curve will be vertical and fiscal policy ineffective when
Direct Materials
Raw materials that are directly incorporated into a finished product and are a significant portion of the product’s cost.
Indirect Materials
Materials used in the production process that cannot be directly traced to the finished product in a cost-effective manner.
Decision-Making
The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
Planning
The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.
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