Question 2-Refer to the information above to answer this question. What is the equilibrium exchange rate?a.2 Canadian dollars for one utop.b.1 utop for one dollar.c.0.50 Canadian dollars for one utop.d.2 utops for one dollar.Question 3 Refer to the information above to answer this question. Suppose that Utopia decided to import more products from Canada. What would we expect?a.That the supply of utops would fall and the dollar would depreciate.b.That the demand for utops would rise and the dollar would appreciate.c.That the supply of utops would rise and the dollar would appreciate.d.That the demand for utops would fall and the dollar would depreciate.

The following table shows the price, in Canadian dollars, of utops, the currency used in the hypothetical economy of Utopia. Assume that a system of flexible exchange rates is in place. [ a0 [ e | w0 s wm Refer to the information above to answer this question. What is the equilibrium rate of exchange of the utop? a. $5. b. $2. $4. d. $1. O O O O O O e. $3