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In the US a Box of Tea Costs $5

question 33

Essay

In the U.S. a box of tea costs $5. The same box of tea in Uganda costs 10,000 schillings (the currency of Uganda). If the real exchange rate is 5/4, what is the nominal exchange rate? Show your work.


Definitions:

Gene-environment Correlation

This concept describes how genetic factors influence an individual's exposure to certain environments.

Epigenetics

The study of heritable changes in gene expression that do not involve changes to the underlying DNA sequence, affecting how genes are turned on or off.

Development

The process of growth and change that a person undergoes, which can be physical, cognitive, or emotional in nature.

Genetics

The branch of biology concerned with the study of genes, genetic variation, and heredity in organisms.

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