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Suppose that soon after Denmark pegs to the euro, the Eurozone benefits from a favorable shift in the world demand for non-Denmark Eurozone exports. 1.

Suppose that soon after Denmark pegs to the euro, the Eurozone benefits from a favorable shift in the world demand for non-Denmark Eurozone exports.

1. What happens to the exchange rate of the Danish krone against non-euro currencies?

2. How is Denmark affected?

3. How does the size of this effect depend on the volume of trade between Denmark and the Eurozone economies?

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