Multiple Choice
Suppose individuals wish to obtain the most accurate comparison of living standards between Australia and China. To do so, one would convert Chinese output into Australian dollars using:
A) the current real exchange rate.
B) an average of the last five years' exchange rates.
C) the prior year's real exchange rate.
D) the current nominal exchange rate.
E) purchasing power parity methods.
Correct Answer:
Verified
Correct Answer:
Verified
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