lju as an emerging economy. major "devaluation" of the Assume the United States has the following import/export volumes and prices. It undertakes a ar "devaluation of the dollar, say 18% on average against all major trading partner currencies. What is the pre-devaluation and post-devaluation Values 2.00 20.0000 12.0000 Assumptions Initial spot exchange rate, S/fc Price of exports, dollars ($) Price of imports, foreign currency (fc) Quantity of exports, units Quantity of imports, units Percentage devaluation of the dollar Price elasticity of demand, imports 100 120 18.00% (0.900)