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1.What effect will the following event have on the value of the Canadian dollar versus the Mexican peso? The Mexican government greatly reduces the tariff

1.What effect will the following event have on the value of the Canadian dollar versus the Mexican peso? The Mexican government greatly reduces the tariff on imports of softwood lumber from Canada.

a)Dollar appreciates and peso appreciates

b)Dollar depreciates and peso depreciates

c)Dollar appreciates and peso depreciates

d)Dollar depreciated and peso appreciated

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