Question: 4. a) Using the structure on the right, develop the monetary transmission or mechanism. Explain each of the steps. b) Add the Open-Economy to your

 4. a) Using the structure on the right, develop the monetary

transmission or mechanism. Explain each of the steps. b) Add the Open-Economy

4. a) Using the structure on the right, develop the monetary transmission or mechanism. Explain each of the steps. b) Add the Open-Economy to your explanation from part a)

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