2. 外语
  3. Under a fixed exchange rate system and freely flowing capital,______.

Under a fixed exchange rate system and freely flowing capital,______.

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问题 Under a fixed exchange rate system and freely flowing capital,______.
选项 A、fiscal policy is ineffective
B、monetary policy is very effective
C、the supply of money is very important
D、monetary policy is ineffective
答案D
解析 答案为D项。在固定汇率下，货币当局不能自主决定货币供应量和LM曲线(货币供需均衡点构成的轨迹)的位置，也不能有效地影响利率水平，所以货币政策是无效的。故本题选D项。
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