A Canadian traveling to the United States converts $100 Canadian into 85 U.S. dollars. One month later he does the same thing and receives only 80 U.S. dollars. There are no transactions costs. The Canadian- U.S. exchange rate has and the Canadian dollar has relative to the U.S. dollar.

Question

Quizplus · Accepted Answer

The Answer of A Canadian traveling to the United States converts $100 Canadian into 85 U.S. dollars. One month later he does the same thing and receives only 80 U.S. dollars. There are no transactions costs. The Canadian- U.S. exchange rate has and the Canadian dollar has relative to the U.S. dollar.

A Canadian Traveling to the United States Converts $100 Canadian