CELPIP Practice · Question
A news report states, 'The Canadian dollar strengthened against the US dollar today, trading at 78 cents US.' What does this mean for Canadians purchasing goods from the US?
If the Canadian dollar strengthens, it means one Canadian dollar can buy more US currency, thus increasing a Canadian's purchasing power when buying goods in th
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Question: A news report states, 'The Canadian dollar strengthened against the US dollar today, trading at 78 cents US.' What does this mean for Canadians purchasing goods from the US?
Answer options: ✅ Their purchasing power in the US has increased.
- Their purchasing power in the US has decreased.
- The cost of US goods remains unchanged.
- They will receive less US currency for their Canadian dollars.
Correct answer: Their purchasing power in the US has increased.
Explanation: If the Canadian dollar strengthens, it means one Canadian dollar can buy more US currency, thus increasing a Canadian's purchasing power when buying goods in the United States.
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