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Two questions that I am just trying to better understand. 1)Explain how a country, such as the United States, is able to run a persistent

Two questions that I am just trying to better understand.

1)Explain how a country, such as the United States, is able to run a persistent current account deficit.Is there a limit to how long this can continue?

2)A country has pegged its currency to the U.S. dollar.If market forces depreciate the local currency, what limits the Central bank in maintaining a fixed exchange rate?

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