Asked by Tally Egbert on Apr 25, 2024
Verified
If the price of a Canadian dollar went from 0.95 US dollars to 0.98 US dollars,we would say that the US dollar has
A) Appreciated
B) Depreciated
C) Not changed in value
D) None of the above
Canadian Dollar
The currency of Canada, symbolized as CAD, which is one of the world's major currencies traded.
US Dollar
The official currency of the United States of America, widely used as a global standard for financial transactions.
Appreciated
A term which indicates an increase in the value of an asset over time.
- Perceive the effect of changes in currency strength on the attractiveness of domestic products for overseas markets.
Verified Answer
DG
Dinora Gonzalez5 days ago
Final Answer :
B
Explanation :
When the price of a Canadian dollar goes up from 0.95 US dollars to 0.98 US dollars, it means that the US dollar can buy fewer Canadian dollars than before. In other words, the value of the US dollar has decreased, and so we say that it has depreciated.
Learning Objectives
- Perceive the effect of changes in currency strength on the attractiveness of domestic products for overseas markets.
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