a) What is the impact of a temporary increase in the foreign interest rate under flexible exchange rates? How does this differ from the impact under fixed exchange rates.b) Show the impact of a permanent rise in foreign inflation rate under flexible exchange rates in the short run and the long run? Please explain with the aid of a figure.c) Discuss briefly what kind of exchange rate system you would recommend for a small country ina integrated global economy ( with capital mobility): fixed or flexible. Explain the reasons for your policy recommendations clearly.