Essay
A certain cell phone sells for 2400 yuan in China and for $300 in the U.S. The nominal exchange rate is 6.5 yuan per dollar.
A. Find the real exchange rate. Show your work.
B. In terms of dollars where is the cell phone cheaper?
Correct Answer:
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The real exchange rate = $300 ...View Answer
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Correct Answer:
Verified
View Answer
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