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For Piaget,children construct knowledge by transforming,organizing,and reorganizing previous knowledge.However,Vygotsky sees it differently.How does he believe children construct knowledge?
Required Reserve Ratio
The percentage of deposits that banks must hold in reserve and not lend out to ensure liquidity.
Transfer Payments
Financial distributions by the government to individuals without any expectation of a good or service being provided in return.
Government Securities
Financial instruments issued by a government to borrow money from investors with a promise to pay back with interest.
Recessionary Gap
A situation in macroeconomics where the actual output of an economy is less than its potential output, leading to unemployment and underutilized resources.
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