{
  "id": "crowding-out",
  "name": "Crowding out (loanable funds)",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "Monetary & fiscal policy",
  "hl": false,
  "description": "Government borrowing to fund a deficit raises demand for loanable funds, pushing up the real interest rate and reducing (crowding out) private investment.",
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    "fiscal policy"
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