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21 (15 points) A fall in the real money demand will lead to changes in output and unemployment rate in a closed economy but no
21 (15 points) "A fall in the real money demand will lead to changes in output and unemployment rate in a closed economy but no changes in these variables in a small open economy that has a fixed exchange rate in the short run." True/False/Uncertain, explain with the aid of ONE Y-r diagram (only the first diagram will be graded)
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Historical Perspectives On The American Economy Selected Readings
Authors: Robert Whaples, Dianne C Betts
1st Edition
0521466482, 9780521466486
