This expansion could have been the result of an aggregate productivity or demand growth in the US economy. Moreover, the growth in the US. may not been homoge neous across all sectors of the economy. We analyze these possibilities here. Explain how each of the following shifts will affect the US dollar real and nominal exchange rates against foreign currencies? Throughout (except the last question) assume that foreign variables remain unchanged. (a The aggregate productivity level rises in the US. b Productivity rises in the traded sector of the US economy. ) ( ) (0) Productivity rises in the nontraded sector of the US economy. (d) The aggregate demand for US goods goes up. ) (e The overall level of spending does not change but domestic residents decide to spend more of their income on nontraded products relative to traded goods. (f) The overall level of spending does not change but domestic residents decide to spend more of their income on traded products relative to nontraded goods. (g) Foreign residents shift their demand away from their own goods and towards the home country's exports