Multiple Choice
If the exchange rate is 97 U.S. cents per Canadian dollar, then
A) the Canadian dollar is cheaper than the U.S. dollar.
B) the U.S. dollar is more expensive than the Canadian dollar.
C) the Canadian dollar will appreciate.
D) one U.S. dollar will buy 1.03 Canadian dollars.
E) one U.S. dollar will buy 0.97 Canadian dollars.
Correct Answer:
Verified
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