The price of domestic goods in terms of foreign goods is referred to as

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The price of domestic goods in terms of foreign goods is referred to as the real exchange rate. This measures the relative prices of goods between two countries, adjusted for changes in the value of their currencies. The nominal exchange rate only reflects the value of one currency in terms of another currency, while the relative inflation rate and the current account balance are not directly related to the price of goods in terms of foreign goods.

The Price of Domestic Goods in Terms of Foreign Goods