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If the annual rate of inflation is 3% in the US and 8% in Australia, at what rate should the AUD be depreciating according to

If the annual rate of inflation is 3% in the US and 8% in Australia, at what rate should the AUD be depreciating according to RPPP? If RPPP fails and the AUD only depreciates by 3%, what has happened in real terms to AUD?

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