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QUESTION 2 (10 MARKS) a) Gold standard established an exchange rate system whereby people could exchange the dollar both domestically and internationally, at the mint

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QUESTION 2 (10 MARKS) a) Gold standard established an exchange rate system whereby people could exchange the dollar both domestically and internationally, at the mint parity rate. Define mint parity rate. (2 marks) b) Explain Protectionism and Isolationism in the Inter-War years. (4 marks) c) Bretton Woods System 1944 is a modified exchange standard based on US dollar monetary system. Discuss why the system does not survived? (2 marks) d) Explain ONE (1) advantage of implementing Fixed Rate Regimes. (2 marks)

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