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Suppose this country is Germany in the early 1990s when there was a fixed exchange rate between Germany and Britain. Explain why Germany's contractionary monetary
Suppose this country is Germany in the early 1990s when there was a fixed exchange rate between Germany and Britain. Explain why Germany's contractionary monetary policy created problems for Britain, what Britain did in response, and why this contributed to Britain's decision not to adopt the Euro as its currency. (No graph is required for this question.)
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