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Principles of Macroeconomics (Mind...

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781285165912

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BuyFindarrow_forward

Principles of Macroeconomics (Mind...

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781285165912
Chapter 18.2, Problem 2QQ
Textbook Problem
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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 of Solution

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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