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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

Define nominal exchange rate and real exchange rate, and explain how they are related. • If the nominal exchange rate goes from 100 to 120 yen per dollar, has the dollar appreciated or depreciated?

To determine

Define nominal exchange rate and real exchange rate.

Explanation

The nominal exchange rate explains how much a foreign currency can be exchanged for a unit of domestic currency. The real exchange rate explains how much the goods and services in the domestic country can be exchanged for the goods and services in a foreign country...

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