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If a CD costs $28 in the United States and 23 in United Kingdom, what is the real CD exchange rate? Assume a dollar-pound exchange

If a CD costs $28 in the United States and 23 in United Kingdom, what is the real CD exchange rate? Assume a dollar-pound exchange rate of $1.5126 per pound. (10 points).

What do you conclude about the American product in terms of prices? (10 points)

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