Essay
A quality men's suit in the U.S. costs $400. The same suit costs 300 British pounds in the U.K. The nominal exchange rate is .60 pounds per dollar.
A. Find the real exchange rate. Show your work.
B. In terms of dollars where is the suit cheaper?
Correct Answer:
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The real exchange rate = $400 ...View Answer
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Correct Answer:
Verified
View Answer
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