1. please include formulas or example that derives the constant real exchange rate when relative ppp holds.

2. plase answer to the question, and also, what does "highly integrated" imply in the question? please answer in detail thanks!

1. Prove that the real exchange rate is constant when the market expects relative PPP to prevail. 2. Other things being equal, in a world of highly integrated financial markets but (less integrated markets for goods and services, is real interest parity more or less likely to hold true, as compared with nominal interest parity? Explain