From 1860 to 1910, U.S. mobility between social classes and occupations
(a) distracted immigrants.
(b) increased the potential migrant's opportunity cost of staying in Europe.
(c) attracted immigrants to the U.S.
(d) decreased foreign investment in the U.S.
Question 2
In the Mundell-Fleming model with a floating exchange rate and perfect capital mobility, expansionary fiscal policy does all of the following EXCEPT:
a. increase interest rates.
b. increase income.
c. increase the IS curve.
d. increase inflation.
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