If the interest rate is expected to be 3% higher in Ireland than in the u.s. :

a. the forecasted ireland spot exchange rate should indicate depreciation by 3%.

b. the forecasted ireland spot exchange rate should indicate appreciation by 3%

c. the theory of purchasing poer parity would predict a drop in nominal interest rates in Ireland of approximately 3%

d. spot exchange rates between the two countries should remain unchanged over the long run.