Suppose that in equilibrium, the price of U.S. dollars (USD) relative to Canadian dollars (CAD) is 1
Question:
Suppose that in equilibrium, the price of U.S. dollars (USD) relative to Canadian dollars (CAD) is 1 USD = 1.5 CAD. This means that it takes ________ USD to buy 1 CAD.
a. 1.5
b. 1
c. 0.667
d. 6.67
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In equilibrium the price of US dollars USD relative to Cana...View the full answer
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Related Book For 
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
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