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During the last 40 years, the United States has experienced an inflation rate of 2% per year. During the same period, the nominal exchange rate
During the last 40 years, the United States has experienced an inflation rate of 2% per year. During the same period, the nominal exchange rate of the US Dollar has appreciated by 237% per year with respect to the Argentinean Peso. If the purchasing power theory holds, what should have been (approximately) the annual inflation rate in Argentina? (Submit your answer with up to two decimals and in percent terms, i.e., 10.22 for 10.22% and 11.44 for 11.442%.)
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