假定货币需求取决于可支配收入，因此，货币市场方程式变为：M／P=L（r，Y－T)。分析在浮动汇率和固定汇率下小型开放

假定货币需求取决于可支配收入，因此，货币市场方程式变为：M/P=L(r，Y-T)。分析在浮动汇率和固定汇率下小型开放经济中减税对汇率和收入的影响。

Suppose that money demand depends on disposable income, so that the equation for the money market becomes: M/P=L(r，Y-T). Analyze the impact of a tax cut in a small open economy on the exchange rate and income under both floating and fixed exchange rates.