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Discuss in detail each of the following: a.Purchasing Power Parity theory (5 marks) b. The Monetary Approach to the Balance of Payments and exchange rate(5

Discuss in detail each of the following:

a.Purchasing Power Parity theory (5 marks)

b. The Monetary Approach to the Balance of Payments and exchange rate(5 marks)

c.The portfolio balance approach. (10 marks)

d. Exchange rate overshooting (10 marks)

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