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One dollar could be exchanged for 55 rupees in 2013 and for 60 rupees in 2014. This implies that the ________.
Vethier 2016
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One dollar could be exchanged for 55 rupees in 2013 and for 60 rupees in 2014. This implies that the ________.
One dollar could be exchanged for 55 rupees in 2013 and for 60 rupees in 2014. This implies that the ________.
▸ rupee appreciated in 2014
▸ nominal exchange rate did not change in 2014
▸ real exchange rate did not change in 2014
▸ dollar appreciated in 2014
Textbook
Macroeconomics
Edition:
3
^{rd}
Authors:
Acemoglu, Laibson, List
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dollar appreciated in 2014
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