For each of the following scenarios, use the IS-LM-FE model to evaluate the impact on Y, r, and P (diagrams are Mandatory) in a small open economy (for both a flexible and fixed exchange rate).

a) A significant decrease in the price of Energy.

b) A significant increase in the working age population.

c) A decrease in the purchase price of capital.

d) A reduction in income tax.

Please draw a diagram and explain, diagrams are indispensable

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