Problem
The policy trilemma: One could make a reasonable case that the United States in the past decade has been able to achieve all three goals of the policy trilemma: it sets its own monetary policy, it has open capital markets, and it has experienced a relatively stable exchange rate. Yet the chapter claimed that an open economy can only achieve two of these policy goals. How do we understand this apparent contradiction?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.