By Randall Poulton
Last Week’s Question:
I can buy a gallon of milk and a dozen eggs at Walmart for $5.35 US. If I chose to pay for these two items with Canadian currency, how much money would it cost me?
A. $4.00 – the Canadian dollar is much stronger than the US dollar
B. The same amount – a dollar is a dollar regardless of whose picture is on the bill.
C. $6.00 or three Loonies
D. More than $7.00
The answer is “D” more than $7.00. The US dollar is much stronger than the Canadian dollar. The current exchange rate is about 40%, therefore: $5.35 American x 1.4 = $7.49 Canadian.
This Week’s Question
There are some other differences between American currency and Canadian. Which of the following statements are true:
A. The Loonie, ($1 coin) and the Toonie ($2 coin) have all but replaced small denomination paper Canadian currency.
B. Canada no longer prints paper money.
C. Canada no longer mints pennies.
D. The Canadian $20 bill and $50 bill feature a picture of a Queen and a King, respectively.
E. All four statements are true.