Fill in the blanks:
a. In a closed economy IS-LM model, fiscal expansion raises _____, whereas in a small open economy with a floating exchange rate IS-LM model, fiscal expansion leaves _____ at the same level.
b. In the Mundell-Fleming model, monetary and fiscal policy depends on the _____regime.

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The Answer of Fill in the blanks:
a. In a closed economy IS-LM model, fiscal expansion raises _____, whereas in a small open economy with a floating exchange rate IS-LM model, fiscal expansion leaves _____ at the same level.
b. In the Mundell-Fleming model, monetary and fiscal policy depends on the _____regime.

Fill in the Blanks