Multiple Choice
The next questions refer to the following.
Suppose the nominal Canadian - US exchange rate is C$1 = US$0.65 (so that one Canadian dollar buys 65 US cents) , and the Canadian price level is twice as high as the US price level.
-The real value of US$1 in Canada is then
A) C$0.65
B) C$0.77
C) C$1.30
D) C$1.40
E) C$1.54
Correct Answer:
Verified
Correct Answer:
Verified
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