Graph the demand and supply of Australian dollars for euros. Due to COVID19 and international border closures, demand for Australian education services by the Europeans has decreased. Show graphically and explain the effect of this decrease in the demand for Australian education services by Europeans on the exchange rate market and the resulting change in the exchange rate of euros for Australian dollars. (2.5 marks)

How would the change in the exchange rate lead to a change in Australia's current account balance? (0.5 marks)Total 3 marks