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The CPI in Europe is 110, and the CPI in U.S. is 121. If absolute purchasing power parity holds, a) then the nominal exchange rate

The CPI in Europe is 110, and the CPI in U.S. is 121. If absolute purchasing power parity holds,

a) then the nominal exchange rate ($/) should be _________ $/.

b) The real exchange rate ($/) should be __________.

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