Examlex
How will an increase in federal government spending without an increase in taxes affect real GDP and the price level in the short run in a closed economy and in an open economy?
Destructive
Causing great and irreparable harm or damage.
Closed Society
A society that is isolated from others and often restrictive in terms of its social, cultural, or political life.
Free Flow of Information
The unrestricted exchange or transmission of data, facts, and ideas.
Government's Decisions
The conclusions or resolutions made by a government or its officials regarding policies, regulations, or actions.
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