The graph below presents nominal exchange rate of the US dollar to the Canadian dollar. We know that inflation was higher in the US than in Canada from 2004 to 2007. In the following years, however, inflation in both countries were virtually the same. Canada: Echange Rate: Market or Par EOQOP. USCH T T T 01 02 03 04 05 06 07 08 09 10 11 Source: International Monetary Fund /Haver Analytics Which of the following statements is TRUE? () A. Over the entire period (2001-2011), the Canadian dollar mostly depreciated in nominal terms. (_) B. During the period 2004-2007, the lower inflation rate in Canada amplified its loss in trade competitiveness due to changes in its nominal exchange rate. () C. Since 2009, the real exchange rate of the Canadian dollar appreciated against the US dollar. () D. None of the statements above are true