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Mathematically, what is the total (or net) effects of an increase of the wealth of households on Y? However, we now assume that the central

Mathematically, what is the total (or net) effects of an increase of the wealth of households on

Y? However, we now assume thatthe central bank controls the nominal interest rate.

(Hint: Totally differentiate IS and LM equations. SetdX=0 ifX is not{Y,A,M} Rearrange to get dY/dA )

Select one:

a. dY/dA=1CYCA

b. dY/dA=1CY(Cr+Ir)YV(i)V(i)1

c. dY/dA=1CY+YV(i)V(i)1

d. dY/dA=1CY+YV(i)V(i)CA

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