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Suppose a Smart phone cost $350 in Canada and Yuan 2,500 in China. If the nominal exchange rate is $1 Canadian dollar is equal to

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Suppose a Smart phone cost $350 in Canada and Yuan 2,500 in China. If the nominal exchange rate is $1 Canadian dollar is equal to Yuan7.75. a) What is the value of the real exchange rate? b) In which country is the Smart phone cheaper? Short Answer Toolbar navigation BIUS FEEV

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