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Exchange Rates: Nominal and Real
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Exchange Rates: Nominal and Real
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23. Exchange Rates / Exchange Rates: Nominal and Real / Problem 8
Problem 8
If the nominal exchange rate changes from 1 USD = 108 JPY to 1 USD = 112 JPY, what has happened to the USD?
A
The JPY has appreciated.
B
The USD has remained stable.
C
The USD has depreciated.
D
The USD has appreciated.
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