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Melly767 Melly767
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3 months ago
Assume that the yuan-dollar nominal exchange rate at the beginning of 2012 was 4 yuan per dollar and at the beginning of 2013 was 6 yuan per dollar. Given this information, identify the currency that appreciated and the currency that depreciated over 2012.
Textbook 

Macroeconomics


Edition: 3rd
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ordinarykathyordinarykathy
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3 months ago
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More solutions for this book are available here
At the beginning of 2012, 1 dollar could buy 4 yuan, while at the beginning of 2013, 1 dollar could buy 6 yuan. Hence, over 2012, the dollar appreciated and the yuan depreciated.

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Melly767 Author
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3 months ago
You make an excellent tutor!
Mcb
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Yesterday
Correct Slight Smile TY
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2 hours ago
Smart ... Thanks!
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