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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 94 percent of the U.S. GDP. Moreover,

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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 94 percent of the U.S. GDP. Moreover, suppose that 57 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 11 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 loss equal to percent of U.S. GDP

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