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Each of the following questions have a value of 4 points. 22nd of Economics after E. 21st. 1. List and explain each of the fifteen components of the Balance of Payments table p. 529, E 817. 21st, 546/832. 2. On the Web, according to FRED explain "The business behind the trade balance" October 25, 2018. 3. Explain the two types of exchange rate systems, p. 532, E 820, 21st, 550, 826. 4. List & explain three determinants of flexible exchange rates, p. 533, E 821, 21st, 548/834. 5. What are two disadvantages of flexible exchange rate, p. 535, E 823, 21st, 551/837. 6.According to Wikepedia explain the purpose of the foreign exchange market (Forex). Explain the impact a strong currency has on a nation's exports & imports. Which is preferable a strong or a weak currency? WHY. 7.List & explain two methods a government can use to achieve fixed exchange rates, p. 536, E 824, 21st, 553/839. 8.Discuss the history of the three different exchange rate systems nations have used over the past 140 years. (p. 538 & end of chapter Appendix). E 835, 21st, 567/853. 9. List and explain two arguments in support of the managed float and two arguments that express concern with the managed float, p. 539, E 826, 21st, 845/559. 10. What are two causes of the Trade deficit in the United States & what are two implications of the United States Trade deficit, p. 540. E 828, 21st, 846/560.