At the end of World War I, the Treaty of Versailles imposed an indemnity on Germany, a large annual payment from it to the victorious Allies. (Many historians believe this indemnity played a role in destabilizing nancial markets in the interwar period and even in bringing on World War II.) In the 19205, the economists John Maynard Keynes and Bertil Ohlin had a spirited debate in the Economic Journal over the possibility that the transfer payment would impose a "secondary bu rden" on Germany by worsening its terms of trade. Suppose a transfer occurs involving Poland and the Czech Republic. The gure to the right shows the determination of the real zloty/koruna exchange rate. (Note: the zloty (z) is the currency of Poland (P) and the koruna (k) is the currency of the Czech Republic (0).) Using the line drawing tool, determine the impact of a permanent transfer from Poland to the Czech Republic, on the assumption that the recipient has a lower marginal propensity to spend on the donor's output than does the donor. Properly label this line. Carefully follow the instructions above and only draw the required object. Real Exchange Rate, qzik RS RD Ratio of Poli to Czech Y N 1 real output (P c) (YPIYC)