3. Crowding-out effect at a budget decit in an open economyr which of the following is a correct statement about the steps involved in the CrowdingOut Effect when a government runs a budget decit in an OPEN economv? Check all the statements that are correct. C] Interest rates rise C] Domestic nancial investment decreases C] The decit represents a reduction in public savings C] Demand for the local currencyr declines C] A reduction in net exports leads to an increase in aggregate demand C] Exports decrease C] The supply of loanable funds increases C] There is appreciation of the domestic cunency