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QUESTION 10 A small open economy that relies heavily on trade with other nations is better positioned to adjust to external shocks if it has

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QUESTION 10 "A small open economy that relies heavily on trade with other nations is better positioned to adjust to external shocks if it has a floating! flexible exchange rate mechanism" Discuss. In your answer consider automatic adjustment mechanisms. (4 marks) How might the current COVID 19 context impact on the adjustment process? (1 mark) (4+1=5 marks)

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