Does the level of the exchange rate matter in the long run? Why or why not?

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Does the level of the exchange rate matter in the long run? Why or why not?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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Macroeconomics

ISBN: 978-0393603767

4th Edition

Authors: Charles I. Jones

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