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3. [8 points] On June 1, 2021, Thailand announced an increase in government spending by 140 billion baht as part of a Covid stimulus package.

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3. [8 points] On June 1, 2021, Thailand announced an increase in government spending by 140 billion baht as part of a Covid stimulus package. Use the goods & services market to predict the effects of this fiscal shock on interest rates, saving, investment, and net exports for Thailand and the rest of the world in the following three cases: (a) Thailand is closed; (b) Thailand is a small open economy; (c) Thailand is open and large

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