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Use the following to answer questions :
Figure: AD-AS
-(Figure: AD-AS) Refer to the figure AD-AS. If our economy is at equilibrium with low-level inflation and the Fed uses expansionary monetary policy, the initial effect is that _____ will shift to _____ and the economy will move from _____.
Cognitive Development
The construction of thought processes, including remembering, problem-solving, and decision-making, from childhood through adolescence to adulthood.
Concrete Operational
A stage in Piaget's theory of cognitive development during which children gain the abilities of logical thought about concrete events, understanding conservation, and performing mathematical operations.
Abstract Thought
The ability to think about objects, principles, and ideas that are not physically present.
Social Activities
Interactions and engagements with others in a communal or public setting, often for leisure, networking, or support.
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