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19 (15 points) According to the Mundell-Fleming model (Y-e diagram), fiscal policy is effective under a flexible exchange rate regime but is ineffective under a

19 (15 points) "According to the Mundell-Fleming model (Y-e diagram), fiscal policy is effective under a flexible exchange rate regime but is ineffective under a fixed exchange rate system". Discuss and support your answer with ONE diagram (only the first diagram will be graded)

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