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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