If the Canadian dollar price of United States dollars increases from C$.80 to C$1.00, it can be concluded that:
A. Both countries are on the international gold standard
B. The Canadian dollar has appreciated in value relative to the United States dollar
C. The United States dollar has depreciated in value relative to the Canadian dollar
D. The Canadian dollar has depreciated in value relative to the United States dollar
D. The Canadian dollar has depreciated in value relative to the United States dollar
You might also like to view...
Each member of a cartel
A) agrees to reduce output lower than it would if it were acting independently. B) is operating illegally in every country in which it is doing business. C) sets output independently of the impact on other members. D) makes less money than it otherwise would.
Economic profit equals accounting profit minus:
a. explicit costs. b. implicit costs. c. fixed costs. d. variable costs.