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 leaves _______________ at the same level.
b. In the Mundell-Fleming model, monetary and fiscal policy depends on ________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 leaves _______________ at the same level.
b. In the Mundell-Fleming model, monetary and fiscal policy depends on ________regime.

Fill in the Blanks