Multiple Choice
How could one describe the international demand for the Canadian dollar?
A) It is downward-sloping because a higher price of the dollar means that Canadian goods are cheaper to foreigners.
B) It is downward-sloping because a higher price of the dollar means that Canadian goods are more expensive to foreigners.
C) It is upward-sloping because a lower price of the dollar means that Canadian goods are cheaper to foreigners.
D) It is downward-sloping because a lower price of the dollar means that Canadian goods are more expensive to foreigners.
E) It is upward-sloping because a lower price of the dollar means that Canadian goods are more expensive to foreigners.
Correct Answer:
Verified
Correct Answer:
Verified
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