6. In the mid- to late 1970s, the yen appreciated rel- ative to the dollar even though...

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6. In the mid- to late 1970s, the yen appreciated rel- ative to the dollar even though Japan's inflation rate was higher than America's. How can this be explained by an improvement in the productivity of Japanese industry relative to American industry?

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Financial Markets and Institutions

ISBN: 978-0321280299

5th edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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