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Calculate the range of the following data set: 8, 7, 9, 1, 6, 10, 4, 7, 4
Exchange-Rate Effect
The impact on a country's trade balance when its currency appreciates or depreciates, affecting the price of imports and exports.
Price Level
The price level represents the average cost of goods and services across the economy at a specific point in time.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
Money Supply
The overall available monetary assets within an economy at a designated time.
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