Assume That Relative Purchasing-Power Parity Holds

question 46

Essay

Assume that relative purchasing-power parity holds.In 2004, the price level in Japan is 120 and the price level in the U.S.is 145.In 2005, the price level in Japan is 121 and the price level in the U.S.is 149.The exchange rate in 2004 is 112 yen per dollar.Calculate the exchange rate in 2005.

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