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An explanation for the slope of the IS curve is that as the interest rate increases, the quantity of investment ______, and this shifts the expenditure function ______, thereby decreasing income.
Price-Support Payments
Government subsidies provided to farmers or producers to maintain the market price of an agricultural product above its competitive equilibrium level.
Family Farm
A farm owned and operated by a family, typically passed down through generations, as opposed to corporate farms owned by companies.
Great Depression
A severe worldwide economic downturn that lasted from 1929 until the early 1940s, marked by massive unemployment and deflation.
1933
A pivotal year during the Great Depression characterized by significant banking crises and the implementation of New Deal policies by President Franklin D. Roosevelt in the United States.
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