Problem
1. Exchange rate fluctuations since 1973 appear to be larger than warranted by the underlying economic circumstances in the nations involved. What reasons have been offered to explain this experience?
2. Academic supporters of flexible exchange rates began the 1970s with some strong expectations as to how that system would operate. Which of those expectations have and which have not been realized?
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.