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We can say that a large open economy, like the United States can be modeled using an average of the closed economy ISLM model and
We can say that a large open economy, like the United States can be modeled using an average of the closed economy ISLM model and a small open economy (Mundell Fleming) model, with flexible 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 the US. Explain your reasoning
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