The Next Questions Refer to the Following

question 23

Multiple Choice

The next questions refer to the following.
Suppose the nominal Canadian - US exchange rate is C$1 = US$0.65 (so that one Canadian dollar buys 65 US cents) , and the Canadian price level is twice as high as the US price level.
-The real value of US$1 in Canada is then

• A) C$0.65
• B) C$0.77
• C) C$1.30
• D) C$1.40
• E) C$1.54

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Definitions:

Black Soldiers

Members of the military who are of African descent, historically facing segregation and discrimination, yet serving valiantly in various armies around the world.

Union Army

The Union Army was the land force that fought for the Union (the Northern states) during the American Civil War, opposing the Confederate Army of the Southern states.

1863

The year during the American Civil War known for significant events such as the Emancipation Proclamation, which declared the freedom of slaves in Confederate states.

Confederate Conscription Act

Legislation passed by the Confederate States during the Civil War in 1862, requiring certain classes of citizens to serve in the army.