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Suppose the European Union was a small open economy under floating exchange rates. Select one: a.Only fiscal policy can affect income. b.Only monetary policy can

Suppose the European Union was a small open economy under floating exchange rates.

Select one:

a.Only fiscal policy can affect income.

b.Only monetary policy can affect income.

c.Neither monetary nor fiscal policy can affect income.

d.Both monetary and fiscal policy can affect income.

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