If the Price of British Pounds, Measured in Terms of Canadian

question 70

True/False

If the price of British pounds, measured in terms of Canadian dollars is rising then, the price of Canadian dollars, measured in terms of British pounds, is also rising.

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Definitions:

Mutual Funds

Investment programs funded by shareholders that trade in diversified holdings and are professionally managed.

Credit Card Debt

A type of unsecured liability which accrues when a consumer purchases goods or services with a credit card and fails to pay back the borrowed amount within the stipulated period.

Car Loan

A personal loan used to purchase a car, paid back in installments over a period of time, usually with interest.

Mortgage Rate

The interest rate charged on a mortgage, determining the size of the monthly payments by the borrower to the lender.