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Exhibit 16-3
-According to those who favor an active approach to policy,where will the economy in Exhibit 16-3 end up once the expansionary gap is eliminated?
Constitution
Essential doctrines or traditional benchmarks that shape the management of a state or equivalent institution.
Separation of Powers
A fundamental principle in constitutional law where the government is divided into distinct branches (legislative, executive, judicial), each with its own powers and responsibilities to prevent abuse of power.
Government
The system or group of people governing an organized community, often a state, including the institutions and officials in charge of policy making and administration.
Judicial Review
The power of the courts to assess the constitutionality of legislative acts or executive actions.
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