Fill in the Blanks

question 5

Essay

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.

---

Definitions:

Mediation Strategy

A plan of action designed to facilitate the resolution of a dispute by involving a neutral third party.

Third-Party Intervention

Involvement by an outside party in a dispute to help resolve it, typically through mediation, arbitration, or conciliation.

Arbitrator's Decision

An arbitrator's decision is a binding resolution made by an arbitrator, a neutral third party chosen to settle a dispute between parties in arbitration.

Effective Mediators

Individuals skilled in facilitating negotiation and conflict resolution between parties, aiming for a mutually satisfactory outcome.