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(b) Calculate consumption, the trade balance, the current account and national savings in periods 1 and 2. (c) Answer the previous question assuming that the

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(b) Calculate consumption, the trade balance, the current account and national savings in periods 1 and 2. (c) Answer the previous question assuming that the price of oil in the second period is not 2 but 1 dollar per barrel. Compare your answers to this and the previous question and provide intuition

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