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2. Using the monetary growth rate model (equation 3.6), calculate the rate of dollar depreciation against the Euro if the following are occurring (all numbers

2. Using the monetary growth rate model (equation 3.6), calculate the rate of dollar depreciation against the Euro if the following are occurring (all numbers in percent) (6 points): MGR MGR YGR YGR (US) (EU) (US) (EU) 7 5 NU UI W NN HNAW 12 35 22 MGR - money growth rate YGR - real GDP growth rate

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