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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

How does an overvalued dollar affect U.S. exports and imports?

To determine

Effects of an overvalued dollar in Country U’s exports and imports.

Explanation

The term “overvalued” means the exchange rate in terms of other currencies is larger than the equilibrium exchange rate. On the other hand, a currency is said to be undervalued if the exchange rate of a currency in terms of other currencies is lower than the equilibrium exchange rate. If one currency is overvalued, the other one is undervalued...

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