Scenario #1: The US and Mexico are major trading partners in goods, services and resources. Starting from ments long-run equilibrium, graphically illustrate and explain what happens to the price level, RGDP and the unemployment rate in the US in response to rising income in Mexico. Question: Which one of the following best depicts the effect of rising income in Mexico on the US economy? O Price level rises, RGDP rises, and unemployment falls Price level falls, RGDP remains relatively constant, and unemployment remains relatively constant O Price remains relatively constant, RGDP rises, and unemployment falls O Price level falls, RGDP falls, and unemployment rises None of the responses are correct