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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 3
The price level in the Eurozone is 124, the price level in the United States is 115, and the nominal exchange rate is 0.80 euros per U.S. dollar. What is the real exchange rate expressed as Eurozone real GDP per unit of U.S. real GDP?
Explanation
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Real exchange rate:
Real exchange rate ...
Macroeconomics 11th Edition by Michael Parkin
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