Why Will There Be Less Crowding Out of Private Spending

question 263

Essay

Why will there be less crowding out of private spending by government spending the less sensitive consumption,investment,and net exports are to changes in interest rates?

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Definitions:

Parol Evidence Rule

A legal principle that prohibits the use of oral or extrinsic evidence to contradict, vary, or add to the terms of a written contract.

Firm Offer

A proposal in contract law that explicitly states it will remain open for a specified period of time and cannot be revoked during that period.

UCC

This code, known as the Uniform Commercial Code, is an extensive assortment of legal rules that supervise commercial exchanges in the United States.

Common Law

A legal system characterized by case law and legal precedents established by court decisions, as opposed to statutory laws enacted by governmental bodies.