a. The table below shows hypothetical data for Canadian dollar demand and supply schedules. The quantity supplied and demanded, shown in the table below, are in billions of dollars per year. Draw demand and supply curves forthe Canadian dollar in exchange for American dollars based on the hypothetical data in the table. Draw the demand and supply curves with the appropriate given tool by plotting only the 2 endpoints ofeach curve for a total of4 points plotted in the graph. Quantity of Quantity of Price of Canadian Dollars Canadian Dollars Canadian Dollar Demanded Supplied (3 billions per (3 billions per Demand and Supply Curves for the Canadian dollar 0.97 Tools / / Demand Cum Supply Curve Price of Canadian Dollar (in SUS) .0 .0 .0 .0 .0 .0 \\D \\D \\D \\D \\D \\D _. m m J:- (.n ox .0 \\D c: 20 SD 40 ED 60 7'0 80 Quantity of Canadian Dollars (billions) b. With a flexible exchange rate, what will the value of the Canadian dollar be? With a flexible exchange rate, the price of the Canadian dollar is US$ Enter your response with 2 decimal places. c. If the Canadian government sets a target exchange rate of US$0.95, a balance-of-payments |deficit of $ billion will be the result. Presuming that the American dollar is the only foreign currency traded with the Canadian dollar, the "change in official reserves" that would appear in Canada's balance-of-payments accounts is $ billion. For balance-of-payments deficits and surpluses do not enter positive or minus signs. For changes in official reserves do enter a minus sign in front of any negative value responses. d. If instead the Canadian government sets a target exchange rate of US$0.92, a balance-of-payments surplus of $ billion will be the result. Still presuming that the American dollar is the only foreign currency traded with the Canadian dollar, the "change in official reserves" that would appear in Canada's balance-of-payments accounts is $ billion