Question: What does the IS curve show? Why is it negatively inclined? What does the LM curve show? What is meant by the transaction and speculative

What does the IS curve show? Why is it negatively inclined? What does the LM curve show? What is meant by the transaction and speculative demands for money? Why is the LM curve usually positively inclined? What does the BP curve show? Why is it usually positively inclined? What determines the slope of the BP curve? Under what condition are the goods market, the money market, and the nation's balance of payments simultaneously in equilibrium? Is this necessarily the full‐employment level of income?

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