Choose the Correct Statements

question 73

Multiple Choice

Choose the correct statements. 1. The exchange rate is the value of the Canadian dollar expressed in units of foreign currency per Canadian dollar.
2. The real exchange rate is the relative price of Canadian-produced goods and services to foreign-produced goods and services.
3. The exchange rate is a measure of the quantity of the real GDP of other countries that a unit of Canadian real GDP buys.
4. The exchange rate is the relative price of Canadian-produced goods and services to foreign-produced goods and services.

• A)Statements 1 and 2 are correct.
• B)Statements 3 and 4 are correct.
• C)Statements 1 and 3 are correct.
• D)Statements 2 and 4 are correct.
• E)Statements 2 and 3 are correct.

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