Explain why American fiscal policy is less powerful and American monetary policy is more powerful than indicated in the closed-economy model described earlier in this book.
A) Fiscal policy is constrained by political considerations, while monetary policy is controlled by independent central banks.
B) Monetary policy directly affects interest rates, while fiscal policy depends on legislative approval.
C) Fiscal policy relies on tax changes, while monetary policy uses tools like open market operations.
D) American fiscal policy is subject to global economic conditions, while monetary policy is more flexible.
