Low interest rates cause people to hoard money, making output and employment stagnate.
The concept of the liquidity trap was first proposed by John Maynard Keynes. He believed that if interest rates were extremely low, people would hoard money in the believe that interest rates could only increase. This results in a stagnation in the level of investment, which would theoretically halt the growth of income and employment. For this reason, Keynes and his proponents maintained that fiscal policy, rather than monetary policy, would be the most effective tool for leaving the great depression.
The Portuguese had a direct trade route to Asia and the Spanish discovered the America. The Spanish colonized the Americas and the Portuguese colonized India
German, French, Italian, Spanish
B. Federal Court Or A Because It's A Trial But It Could Also Be A Federal Court Depending On Who It's Being Held Against.
<span>"Life without Gravity" is an essay that explores the exact concept that its name describes: a life without gravity. In the essay, it is discussed how milk being poured in a weightless environment would interact with the environment. The essay explains that it would likely create balls of milk. These balls would be floating, and would be large rather than small.</span>
