An economy on a fixed exchange rate system has been running a trade surplus for manyyears. This has led to accusations by its trading partners that the economy hasdeliberately undervalued its currency to boost its export. Analyse the effect on the economy’s trade balance and balance of payment when itscurrency is under-valued. What can you comment on the output and employment of theeconomy? Discuss with the help of a suitable foreign exchange market diagram
This question was answered on: Sep 21, 2023
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