1. Choose a country other than Canada. Does it have a central bank? What are that bank's functions if it does exist. How is the exchange rate of the country managed. Do you feel this choice of exchange rate management is beneficial to the country's GDP?

2. Using the theory of monetary policy, what should the Bank of Canada do right now to close any GDP gaps. Be very (provide a detailed plan) on actually how they would do it) specific on how they would accomplish their goals.