Course: Macroeconomics Assume a small open economy with perfect capital mobility. Explain what will happen to balance of payments current account balance in the face of following events and graph results: (a) Large oil reserves are discovered in country that will require additional investment for 5 years before exploitation begins. b) Climatic factors force closure of factories for next 3 months, after which production returns to normal. c) Discovery of copper where country is a copper producer and exporter.