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Suppose that at the beginning of 2019, American holding of foreign assets consists of 100 shares of European corporate stock, with each share having a
Suppose that at the beginning of 2019, American holding of foreign assets consists of 100 shares of European corporate stock, with each share having a value of 1 euro.Moreover, suppose that the rest of the world holds $400 of U.S. government bonds.Finally, the exchange rate at the beginning of the year is $1.5 per euro.What was the American net international investment position at the beginning of 2019?
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