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Q1. The chart below uses exchange-rate and price-level data for Australia and the US. How do these data stack up against theory? Are they consistent

Q1. The chart below uses exchange-rate and price-level data for Australia and the US. How do these data stack up against theory? Are they consistent with exchange-rate theory? Explain.

Exchange rate (SUS per SAl) Relative price 2 -10 (Pus/ PAD 1901 1921 1941 1961 1981 2001 2019 Australia-US exchange rate and relative prices

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