Canada is the largest trading partner for the United States. In 2014, U.S. exports to Canada were
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Canada is the largest trading partner for the United States. In 2014, U.S. exports to Canada were more than $312 billion and imports from Canada totaled more than $347 billion. On January 1, 2014, the exchange rate between the Canadian dollar and the U.S. dollar was 1.06 Canadian dollars = 1 U.S. dollar. On January 1, 2015, the exchange rate was 1.17 Canadian dollars = 1 U.S. dollar. Explain how this change in exchange rates could impact U.S. consumers and firms?
Exchange RateThe value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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