3 Questions on a real Small Open Economy (SOE) Consider the model for a SOE, in which agents allocate consumption intertemporally based on their initial NFA (BO) and the current and future endowments / output (Q1, Q2), given an initial interest rate (To). Are the following statements true, false or uncertain? Justify your answer. 1. An anticipated (future) improvement in output leads to a trade decit today. 2. Countries X and Y are identical in all reSpects, except that the initial NFA of country X is greater than that of country Y. (a) Consumption in country X is higher than consumption in country Y both currently and in the future. (b) The current trade balance of country X is greater than that of country Y. (c) None of the above is true. 3. A country populated by impatient households (i.e., a country with lower ,3) will consume more in period 1