EBK ECONOMICS
5th Edition
ISBN: 8220106907184
Author: KRUGMAN
Publisher: YUZU
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Chapter 33, Problem 14P
To determine
Concept Introduction:
Appreciation of Currency: It is referred to as the rise in the value of currency in comparison to other currencies. Consider a situation in which value of one dollar is equal to INR 50. When it becomes equal to INR 60, it means dollar has appreciated in comparison to INR.
Depreciation of Currency: It is referred to as the reduction in the value of currency in comparison to other currencies. Consider a situation in which value of one dollar is equal to INR 50. When it becomes equal to INR 40, it means dollar has
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