If a Majority of Canadian Households and Businesses Refused to Accept

question 117

Multiple Choice

If a majority of Canadian households and businesses refused to accept Canadian dollars in exchange for goods and services,the value of the Canadian dollar would

• A)fall.
• B)rise since less would be in circulation.
• C)stay constant since the value does not depend on its acceptability by people.
• D)stay constant since its value is determined only by the Bank of Canada.
• E)stay constant since its value is determined only by the Government of Canada.

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Definitions:

Ordinal Variables

A type of variable where the order of the values is significant, but the differences between the values are not necessarily consistent.

Interval Variables

Interval variables are a type of quantitative variable that have ordered values with consistent differences but no true zero point, such as temperature in Celsius.

T-Table Values

Values in a table that represent critical values of the t-distribution used in hypothesis testing, dependent on the desired significance level and degrees of freedom.

Expected Value

The weighted average of all possible values that a random variable can take on, with the weights being the probabilities of each outcome.