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Assuming a FLOATING exchange rate system between UK and Germany . Based on the class discussions, describe clearly (step-by-step) the impact of high unemployment of

Assuming a FLOATING exchange rate system between UK and Germany.Based on the class discussions, describe clearly (step-by-step) the impact of high unemployment of UK on Germany. (Note: no change in monetary and fiscal policies in both countries)

The first step is given as follows:

Unemployment of UK Income of UK

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