Suppose NZ imports iPhone and exports butter to the US. The NZ exporters use the NZD as the invoice currency, while the NZ importers use the USD as the invoice currency. The quantity and prices are shown in the table. Exports (Butter) Imports (iPhone) Quantity 300 Ton 100 units Contract Price NZ$ 2,000 per Ton US$ 2,000 per unit Total Value NZ$ 600k US$ 200k Initially, the exchange rate is 1.5 NZD = 1 USD. Today, the exchange rate becomes 1.7 NZD = 1 USD, and the Select alternative V the NZ trade balance immediately. It takes time for the quantities of exports and imports to adjust to relative price changes. The exchange rate movement mentioned above is expected to Select alternative y the NZ trade balance in one year