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Suppose France imports more from Britain than Britain imports from France (because the French really like English bread and cheese!) What type of Balance of

Suppose France imports more from Britain than Britain imports from France (because the French really like English bread and cheese!)

What type of Balance of Payments imbalance is this? (Answer for each country)

How would a Balance of Payments Adjustment occur during the Gold Standard international monetary system? (Explain the logic step by step, using your own words. Connect the steps to the specific situation described above.)

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