Question
If 100 U.S. dollars traded for 150 Canadian dollars yesterday, but 150 U.S. dollars trades for 300 Canadian dollars today, which of the following is correct?(1 point)
Responses
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
Responses
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar appreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
The U.S. dollar depreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.
Answers
GPT-4o mini
To analyze the situation, let's break down the given exchange rates.
**Yesterday's rate:**
- 100 U.S. dollars (USD) = 150 Canadian dollars (CAD)
- Therefore, 1 USD = 150 CAD / 100 = 1.5 CAD
**Today's rate:**
- 150 U.S. dollars (USD) = 300 Canadian dollars (CAD)
- Therefore, 1 USD = 300 CAD / 150 = 2 CAD
Now let's interpret the changes:
- Yesterday, 1 USD was worth 1.5 CAD.
- Today, 1 USD is worth 2 CAD.
Since the value of the U.S. dollar has increased (it can now be exchanged for more CAD), we can conclude that:
- The U.S. dollar **appreciated** with respect to the Canadian dollar.
- Conversely, the Canadian dollar **depreciated** with respect to the U.S. dollar since it takes fewer USD to get more CAD.
Based on this analysis, the correct response is:
**The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.**
**Yesterday's rate:**
- 100 U.S. dollars (USD) = 150 Canadian dollars (CAD)
- Therefore, 1 USD = 150 CAD / 100 = 1.5 CAD
**Today's rate:**
- 150 U.S. dollars (USD) = 300 Canadian dollars (CAD)
- Therefore, 1 USD = 300 CAD / 150 = 2 CAD
Now let's interpret the changes:
- Yesterday, 1 USD was worth 1.5 CAD.
- Today, 1 USD is worth 2 CAD.
Since the value of the U.S. dollar has increased (it can now be exchanged for more CAD), we can conclude that:
- The U.S. dollar **appreciated** with respect to the Canadian dollar.
- Conversely, the Canadian dollar **depreciated** with respect to the U.S. dollar since it takes fewer USD to get more CAD.
Based on this analysis, the correct response is:
**The U.S. dollar appreciated with respect to the Canadian dollar, and the Canadian dollar depreciated with respect to the U.S. dollar.**