GCU Economic Repercussions of UK Separation from European Union Paper

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Economics

Grand Canyon University

Description

It is also important to address the essence and features of foreign market relative to international exchange system. For instance, you can compare the dollar with the British Pound. What are the determinants of the exchange rate? What has been the impact of the UK's separation from the European Union? What are the economic repercussions including those noticed beyond the exchange rate? You can also present your own scenario, comparing the currency of any country. It can be Euro, or Chinese or Russian currencies. Please explain. 200 words. No title page needed. 1 reference needed.

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Explanation & Answer

Attached.

Running Head: REPURCUSSIONS OF BREXIT

1

Brexit refers to a policy initiative recently adopted by the United Kingdom outlining the
nation’s desire to withdraw itself from the economic sphere of the European Union. Those voting
in favor of Brexit anticipated that ending Britain’s net contributions to the European Union could
fuel favorable domestic economic initiatives like allowing for greater tax cuts and increased
government spending. However, the majority of research from the Institute for Fiscal Studies
indicated that withdrawing from the European Union would leave the government with less
money anyways as a result of the impact on the buying power of the British pound on the
international stage .A combination of factors has severely dampened the British pound’s
purchasing power as a result of the Brexit referendum including Britain’s responsibility...


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