Prepare three relatively short documents describing the desirable characteristics of money, explaining how monetary policy works against a recession, and explaining how the equilibrium exchange rate is determined in a flexible exchange rate system. You are expected to use appropriate macroeconomic models and graphs in the documents wherever warranted in order to check your general understanding

Assume that you have successfully completed an introductory course in macroeconomics. You have found summer employment with the New Economic Research Foundation (NERF), a hypothetical economic research institute that prepares short economic brochures and pamphlets on various aspects of economics for distribution to the public. Your job, as a consultant's assistant, is to assist the economic consultant in preparing these pamphlets, which are intended to serve as good sources of economic education. In particular, the economic consultant has assigned to you the following duties:

(a) Prepare Pamphlet A, describing the desirable characteristics of money in modern society.

(b) Prepare Pamphlet B, explaining how monetary policy can be used to combat a recession in a modern money economy. Use the money market model, the rate of interest/investment relationship, and the AD/AS model.

(c) Prepare Pamphlet C, explaining how the equilibrium exchange rate is determined in a flexible exchange rate regime. Use the foreign exchange market model.