The formula for the real exchange rate is domestic prices in domestic currency foreign prices in foreign currency real exchange rate-nominal exchange rate x Currently, one Australian dollar buys 0.58 Euros on foreign exchange markets (i.e the nominal exchange rate is 0.58). Suppose that a standardized basket of goods and services costs 100 Euros in Germany and 200 Australian dollars in Australia Use the above information to complete the following statements treat Australia as the domestic country, round all numerical responses to 2 decimal places): i. The current real exchange rate is ii. In real terms, relative to German goods and services, Australian goods expensive. (insert either and services are more', less' or 'equally). Germa ii If, alternatively, purchasing power parity held between Australia and then the realexchange rate d be iv. According to your answers to questions (i) and (ii), relative to Germany valued. (insert either the Australian dollar is over or 'under)