Problem
Movements in the euro's external exchange rate can be seen as goods-market shocks that have asymmetric effects on different euro zone members. When the euro appreciated against China's currency in 2007, which country suffered the greater fall in aggregate demand, Finland, which does not compete directly with China in its export markets, or Spain, which does? What would have happened had Spain retained its old currency, the peseta?
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.