assume that hong king is currently pegging its exchange rate to the us. further assume, that last year, hong kong had a GDP of $400mn and the US $2000mn and both economies had a money supply equal to GDP. for the following scenarios, calculate the reserve flow. a. hong kong is currently backing the money supply with 5% reserves. assume the fed wants to deliver an inflation rate of 2% and production increases by 20% in hong kong and 20% in the US. calculate the reserve flow. b. assume hong kong earmarked half the USD amount received in reserves under a) for social programs. now hong kong enters a recession and real gdp declines by 10% while gdp increases by 20% in the us and still the fed targets 2% inflation. calculate the reserve flow. c. will hong kong be able to maintain the peg under both reserve scenarios A and B? explain