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Suppose that an Apple iPhone costs $200 in the United States, 60 in the United Kingdom, and 40,000 in Japan. If the exchange rate between

Suppose that an Apple iPhone costs $200 in the United States, 60 in the United Kingdom, and 40,000 in Japan. If the exchange rate between the pound and the dollar is $1.50 = 1, the real exchange rate between the pound and the dollar is __ nothing. (Enter your response rounded to two places.)

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