Q2: The pandemic and the war in Ukraine have impacted the economies of many countries in 2022.

a/ Select Sri Lanka as a country of your choice and explain, with the help of examples, how its economy has been Impacted by the above 2 events.(talk in detail about the high imports economy and neagtive due to devaluation of currency, high dependency on china for imports and also more debt and bad infrastructure investement and projects from china, increase in oil price due to wars has made logistics cost expense and therefore impacting imports, ukraine is large producer of wheat and food grain which sri lanka inports a lot etc.)

b/ Explain the difference between inflation, hyper-inflation and stagflation.

c/ In your view, what sort of inflation is Sri Lanka experiencing as a result of the pandemic and the war in Ukraine. Please provide examples and refer to some economic theories to support your analysis and conclusion.

d/ If you were the economic advisor to Sri Lanka, what recommendations and actions would you advise the central bank and the government to take. Please argue how your recommendations can help the economy of this country. please give example with the detailed recommendations