-Refer to the above graph.If the economy was initially in equilibrium at point 3 and interest rates increase by 4 percentage points,then the crowding-out effect would be:
Definitions:
Scientific Method
A systematic process used for research that involves observation, forming a hypothesis, experimentation, and arriving at conclusions based on evidence.
Inductive Method
A logical approach that begins with observations and moves towards generalizations and theories.
Deductive Method
A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.
Main Stages
The primary phases or steps within a process or lifecycle, marking significant points of development or transition.
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