27 Suppose that the current Canadian dollar (CAD) to U.S. dollar exchange rate is $0.85 CAD = $1 U.S. and that the U.S. dollar price of an Apple iPhone is $300. What is the Canadian dollar price of an iPhone? 24 CAD Next, suppose that the CAD to U.S. dollar exchange rate moves to $0.96 CAD = $1 U.S. What is the new Canadian dollar price of an iPhone? $ CAD Other things equal, would you expect Canada to import more or fewer iPhones at the new exchange rate? v (Click to select) More Fewer
27 Suppose that the current Canadian dollar (CAD) to U.S. dollar exchange rate is $0.85 CAD = $1 U.S. and that the U.S. dollar price of an Apple iPhone is $300. What is the Canadian dollar price of an iPhone? 24 CAD Next, suppose that the CAD to U.S. dollar exchange rate moves to $0.96 CAD = $1 U.S. What is the new Canadian dollar price of an iPhone? $ CAD Other things equal, would you expect Canada to import more or fewer iPhones at the new exchange rate? v (Click to select) More Fewer
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Open-economy Macroeconomics: Basic Concepts
Section: Chapter Questions
Problem 6PA
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