Do the same as in Problem 4 but assuming an implicit appreciating trend of the dollar over the business cycle Problem 4 Draw a figure similar to Figure 20 2 showing the fluctuation in the exchange rate over the business cycle without speculation, with stabilizing speculation, and with destabilizing speculation when there is no long run trend in the exchange rate over the cycle

Question: Do the same as in Problem 4 but assuming an implicit appreciating trend of the dollar over the business cycle. Problem 4 Draw a figure

Do the same as in Problem 4 but assuming an implicit appreciating trend of the dollar over the business cycle.
Problem 4
Draw a figure similar to Figure 20.2 showing the fluctuation in the over the business cycle without speculation, with stabilizing speculation, and with destabilizing speculation when there is no long-run trend in the over the cycle.

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