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Complete the following

Economics

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Complete the following. a) Complete the following statement. 
Monetary policies are effective in affecting GDP under a flexible exchange rate system because if the central bank cuts 
'interest rates, we demand (Select one) 
(Select one) , so our Y rises. 
foreign assets, our C$ (Select one) , our exports (Select one) and our imports 
b) Complete the following statement. 
Monetary policies are ineffective in affecting GDP under a fixed exchange rate system because if the central bank cuts interest rates, we demand (Select one) foreign assets, we sell C$ and demand US$, but this creates pressure for C$ to (Select one) . BOC has to sell us US$ and buy our C$, causing the money supply to (Select one) so interest rates rise back to where they were. Ultimately there is (Select one) effect on the economy. 
 

a)

1st option : more/less

2nd : appreciate/depreciate/does not change

3rd : rise/fall/remain unchanged

4th : same as 3rd

b)

1st option : same as a)1

2nd : same as a)2

3rd : same as a)3

4th : a recessionary/an expansionary/a negligible