When the Value of the Canadian Dollar Drops

question 127

Short Answer

When the value of the Canadian dollar drops
both our imports and our exports become more expensive.
our imports become cheaper and our exports become more expensive.
our imports become more expensive and our exports become cheaper.
both our imports and our exports become cheaper.
there is no change in the price of our imports and our exports.

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Definitions:

Expected Value

The predicted value of a variable, calculated as the weighted average of all possible values this variable can take; each value is weighted by its probability of occurrence.

Perfect Information

Perfect Information refers to a situation where all participants have comprehensive knowledge of all relevant aspects, eliminating uncertainty.

PHStat

A software tool that enhances Excel with statistics functions, making it easier to perform statistical analyses.

Decision Tree

A decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility.