Assume that the income level in Canada rises at a much higher rate than does the U.S. income level. Other things being equal, how this should affect:

a. The Canadian demand for U.S. dollars (explain both verbally and graphically)

b. Supply of U.S. dollars for sale (explain both verbally and graphically)

c. Equilibrium value of the U.S. dollar (explain both verbally and graphically)

4 digits after the decimal point when calculating or writing exchange rates.