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Suppose the price indexes in Spain and the U.S., which both began the year at 100, are at 117 and 105, respectively, by the end
Suppose the price indexes in Spain and the U.S., which both began the year at 100, are at 117 and 105, respectively, by the end of the year. If the beginning and end exchange rates, respectively, for the Euro, are $.1320 and $.1125, then the change in the real value of the Euro (a ""indicates a real devaluation) during the year is 4% 0 5% 0% 2%
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