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Suppose that the nominal exchange rate is 15 crowns per altyn. The domestic price level is 6 altyns/bottle of wine, and the foreign price level
Suppose that the nominal exchange rate is 15 crowns per altyn. The domestic price level is 6 altyns/bottle of wine, and the foreign price level is 2 crowns/bushel of wheat. (a) What is the real exchange rate? (b) What is the real exchange rate in the foreign country
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Principles of Economics
Authors: Fred M. Gottheil
7th edition
978-1133962069, 9781285064444, 1133962068, 1285064445, 978-1285064437
