Question
An iPhone 14 pro in the US cost $1,099USD and 944 in the United Kingdom. Assume an exchange rate of $1.23 per pound. What is
An iPhone 14 pro in the US cost $1,099USD and 944 in the United Kingdom. Assume an exchange rate of $1.23 per pound. What is the real iPhone exchange rate? If inflation on average is higher in the US compared to the UK over some long period, what will happen to the value of the US dollar?
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
