If One USDollar Could Be Exchanged for One Canadian Dollar in 1970,and

question 114

Multiple Choice

If one U.S.dollar could be exchanged for one Canadian dollar in 1970,and one U.S.dollar can now be exchanged for 1.13 Canadian dollars,which of the following is true?

• A)The U.S.dollar lost value against the Canadian dollar.
• B)The Canadian dollar lost value against the U.S.dollar.
• C)The Canadian dollar gained value against the U.S.dollar.
• D)Both A and C are true.

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Definitions:

Average Total Cost Curve

A graphical representation in economics showing the average total cost of production at different levels of output.

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A situation where the quantity demanded of a good or service is highly responsive to changes in its price.

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The activity or profession of producing advertisements for commercial products or services.

Perfect Price Discrimination

A pricing strategy where a seller charges each buyer the maximum price they are willing to pay, capturing the entire consumer surplus.