Under fixed exchange rates and perfect capital mobility, ( ) is effective for a small open economy.
A. fiscal policy alone
B. monetary policy alone
C. fiscal policy and monetary policy
D. exchange rate policy
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Assume a nation is of unemployment and external balance, given a fixed exchange rates, a can achieve both internal and external balance by:
A. an expansionary fiscal policy with a tight monetary policy
B. an expansionary fiscal policy alone
C. a tight monetary policy alone
D. an easy monetary policy alone
Assume a nation is of unemployment and external balance, given a fixed exchange rate, an expansionary fiscal policy alone will cause:
A. achieving its internal objective only
B. arriving at the external balance only
C. reaching internal balance and external balance
D. nothing
Which of the following is not true with the factors affecting the position of IS, LM and BP schedule?
A. If there is an increase in any of the three items, the IS schedule will shift to the left.
B. If the domestic money supply increases, then the LM schedule will shift to the right.
C. Depreciation will cause a rightward shift of the BP schedule (Marshall-Lerner condition holds)
D. A fall in savings or imports will require a rightward shift of the IS schedule
The IS and LM schedules intersect at a point on the BP schedule, which implies:
A) Increase in the money supply
B. Decrease in government expenditures
C. Increase in business and household taxes
Decrease in import tariffs
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