Which of the following statements accurately describe the effects of currency appreciation on a nation's economy? Select all that apply.

Currency appreciation happens when the value of a country's money increases compared to other currencies. This can make imported goods cheaper, which is good for consumers because they can buy products from other countries at lower prices. For example, if a country’s currency appreciates, a citizen could buy a foreign car for less money than before. However, it can hurt local businesses that export their products because their goods become more expensive for foreign buyers. Overall, while currency appreciation can benefit consumers, it can challenge exporters and may affect the economy in different ways.