1. 2. 3. What are the advantages and disadvantages of fixed exchange rates? (8 marks) What were the three key elements of the package used by the U.S. government to resolve the 2008-2009 credit crisis? (6 marks) Infrastructure weakness was one of the causes of the emerging market crisis in Thailand in 1997. Define infrastructure weakness, and explain how it could affect a country's exchange rate. (6 marks) What were the main causes of Thailand's crisis of 1997? What lessons were learned and what steps were eventually taken to normalize Thailand's economy? (6 marks) 4. 5. What were the main causes of Russia's crisis of 1998? What lessons were learned and what steps were taken to normalize Russia's economy? (6 marks)