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Suppose the U.S. foreign assets are 66 percent of the U.S. GDP, and the U.S. foreign liabilities are 96 percent of the U.S. GDP. Moreover,

image text in transcribed Suppose the U.S. foreign assets are 66 percent of the U.S. GDP, and the U.S. foreign liabilities are 96 percent of the U.S. GDP. Moreover, suppose that 61 percent of U.S. foreign assets are denominated in foreign currencies, while all liabilities to foreigners are denominated in U.S. dollars. How will a 14 percent depreciation of the dollar affect foreigners' net foreign claims on the U.S. measured in U.S. dollars (as a percent of U.S. GDP)? (You will need a calculator. Round your answer to the whole percentage point, no decimals.) Foreigners will experience a net capital equal to percent of U.S. GDP

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