l. a) What are the functions of the Central Bank of Canada? Explain with diagram. 1)) Explain the Quantity Theory of Money. 2. a) Explain the differences between the Flexible exchange rate and Fixed exchange rate. b) The current exchange rate is 1 US $1 = 1.20 CAD. What will be the impact on Canadian exports if the exchange rate changes to US $1 = 1.45 CAD? 3. a) What are the purposes of government spending? Explain b) What are the types of income tax system? (i.e: Proportional tax, Progressive tax and regressive tax}