In the textbook there are two circular flow diagrams: One that represents the flows in the macro-economy as a closed system and one that represents the flows as an open system. Review the diagrams and write a three to five page length paper that:_______________________________________________________________________________Your managing director asks if you can participate in a seminar that the firm is doing on tax efficient financial planning. He would like you to send him in memo form the various types of vehicles that can be used by clients to reduce the various kindsof taxation.Prepare a memo to the managing director that explains the different vehicles available that can be used for each of the following: