=+exchange rate (measured as bottles of vodka per TV) and the nominal exchange rate (measured as rubles

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=+exchange rate (measured as bottles of vodka per TV) and the nominal exchange rate (measured as rubles per yuan)? Explain your reasoning.

(Hint: For the real exchange rate, think about the link between scarcity and relative prices.)

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Macroeconomics

ISBN: 9781429240024

8th Edition

Authors: N Gregory Mankiw

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