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(a) the that the inflation rate is higher in the USA than in Japan. How should this affect the US demand (3) japantese products and

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(a) the that the inflation rate is higher in the USA than in Japan. How should this affect the US demand (3) japantese products and the US demand for Japanese yen? (3 marks) 3. Define balance of payment (BOP). Why it is important to study it? ( 3 marks)

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