An economist is analyzing the currency relationship between Canada and the United Kingdom, establishing Canada as the 'home' country. The exchange rate is expressed as the amount of Canadian dollars (CAD) needed to purchase one British pound (GBP). If the observed rate changes from 1.70 to 1.65, what is the correct interpretation from the Canadian perspective?
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Ch.5 Macroeconomic policy: Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
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