Multiple Choice
If one US dollar could be exchanged for one Australian dollar in 1970,and one US dollar can now be exchanged for 1.27 Australian dollars,which of the following is true?
A) The US dollar lost value against the Australian dollar.
B) The Australian dollar gained value against the US dollar.
C) The Australian dollar lost value against the US dollar.
D) The US dollar lost value against the Australian dollar; and the Australian dollar gained value against the US dollar.
Correct Answer:
Verified
Correct Answer:
Verified
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