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13. One year ago the spot rate of U.S. dollars for Canadian dollars was $0.80 per C$1. Since that time the rate of inflation in

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13. One year ago the spot rate of U.S. dollars for Canadian dollars was $0.80 per C$1. Since that time the rate of inflation in the U.S. has been 5% greater than that in Canada. Based on the theory of Relative PPP, the current spot exchange rate of U.S. dollars for Canadian dollars should be

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