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Assume that following the UK's exit from the European Union the demand for UK goods in Europe collapsed. Use the IS-MP-PC to explain the impact

Assume that following the UK's exit from the European Union the demand for UK goods in Europe collapsed. Use the IS-MP-PC to explain the impact on UK output and inflation, assuming policy makers take no action. How could the UK offset the impact of Brexit using (a) monetary policy and (b) fiscal policy. Illustrate your answers with diagrams

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