Question: QUESTION 7 Many commodities produced by Canadian resource extraction companies are priced in US$ in international markets. Suppose a Canadian producer sells exports steel

QUESTION 7 Many commodities produced by Canadian resource extraction companies are priced

QUESTION 7 Many commodities produced by Canadian resource extraction companies are priced in US$ in international markets. Suppose a Canadian producer sells exports steel for US$2500 per tonne. What is the consequence for C$ revenue per tonne if the exchange rate goes from US$0.69 to US$0.71 per C$? O As the Canadian dollar strengthens, revenue decreases. O O O As the Canadian dollar weakens, revenue decreases. As the Canadian dollar strengthens, revenue increases. As the Canadian dollar weakens, revenue increases.

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