o. Has there been inflation over cach span of years ? Explain why of wily nor. 7. Consider the exchange rates below for the South Korean Won and the Russian Ruble. Rate I is the initial rate, and rate II is the current rate. You must show your math work in order to receive credit on this problem. Note: use 2 Decimals for prices in Rubles, no decimals for prices in Won(). Rates are 1,000 Won per however many Rubles. Starting Rate I. KRW 1000 = RUB P 74.37 Later Rate II. KRW 1000 2 = RUB P 76.48 If the price of a car made in South Korea is KRW 27,160,000 and the price of a case of Vodka distilled in Russia is RUB P 19,530.00: D a. Calculate the price of each nation's export in the other nation's currency for both exchange rates. b. If the exchange rate changes from rate I to rate II, determine the effect on South Korea's Net Export Spending, Total Spending, Aggregate Demand and Real GDP. Determine the effect on the same data for Russia. DO NOT WRITE ON THESE PAGES