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mb83 mb83
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A year ago
Assume that at the beginning of 2012, 1 dollar could be traded for 5 yuan. If in 2013, 1 dollar was being traded for 6 yuan, it can be concluded that ________.

▸ the dollar appreciated against the yuan and the yuan depreciated against the dollar in 2013

▸ the dollar depreciated against the yuan and the yuan appreciated against the dollar in 2013

▸ the real exchange rate changed in 2013, assuming PPP holds

▸ the nominal exchange rate did not change in 2013
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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keeton1989keeton1989
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A year ago
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