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QUESTION 5 ( 10 MARKS) Economy AAA is adopting the exible exchange rate. There are some who states that the implementation of contractionary Monetary Policy

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QUESTION 5 ( 10 MARKS) Economy AAA is adopting the exible exchange rate. There are some who states that the implementation of contractionary Monetary Policy will not affect the economy especially the real variables in the short run as well as the long run. a) Do you agree with the above statement? b) Discuss the reasoning for you answer above with aid of appropriate diagram

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