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A) Assume the UK is a small open economy. Using the simple national accounting framework and assuming that Brexit creates higher trade barriers and a
A) Assume the UK is a small open economy. Using the simple national accounting framework and assuming that Brexit creates higher trade barriers and a necessary fiscal expansion, discuss what the implications of Brexit may be.
B) Stay with the assumption that Brexit leads to a large fiscal expansion, but instead of the UK being a small open economy, it is now a LARGE open economy. What impact would British fiscal policy have on Poland, a small open economy?
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