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1. Fiji trades with New Zealand. Explain the effect of each of the following events on the quantity of real GDP demanded and aggregate demand

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1. Fiji trades with New Zealand. Explain the effect of each of the following events on the quantity of real GDP demanded and aggregate demand in Fiji. a) The price level in Fiji rises. (2 marks) b) The Reserve Bank of Fiji increases the quantity of money. (2 marks) c) The Fiji Government raises income taxes. (2 marks) d) New Zealand experiences strong economic growth. (2 marks)

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