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5. Suppose it can be argued that a large economy like China can be modeled using an average of the closed economy ISLM model and
5. Suppose it can be argued that a large economy like China can be modeled using an average of the closed economy ISLM model and a small open economy (Mundell Fleming) model with fixed exchange rates. Based on the conclusions we have reached from studying these models, if the objective is to boost employment, rank in order (ie. 1, 2, 3) of most effective to least effective the following: monetary policy, trade restrictions (trade policy) and fiscal policy, in China. Explain your reasoning
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