1.) You are a Philippine government policymaker. What are the things you need to look at, monitor/look out for and manage with respect to the country being an OPEN economy and explain, including why these things (individually listed/per item) are important. Given are that the country has substantial OFW remittances, is heavy in Business Process Outsourcing services and has a flexible exchange rate policy. You can state other givens as you know.

2.) Relate the Production Possibility Frontier/Curve with the aggregate model of the macroeconomy.