Fill in the Blanks

question 40

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

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Definitions:

Pituitary Gland

A pea-sized gland located at the base of the brain, important in controlling growth, metabolism, and regeneration, often called the "master gland."

Brain

The organ of the central nervous system located in the skull, responsible for coordinating sensory information and directing motor responses; also the center of thought and emotion.

Myxedema

A condition resulting from the hypofunction of the thyroid gland.

Thyroid Hormone

Hormones produced by the thyroid gland, important for regulation of metabolism, energy generation, and neuromuscular function.