Examlex
You are considering staying in college another semester so that you can complete a major in economics.In deciding whether or not to stay you should
Real Exchange Rate
The rate at which the currency of one country can be exchanged for the currency of another country, adjusted for inflation.
Nominal Exchange Rate
The price at which one currency can be exchanged for another currency, without adjustment for inflation.
Pesos
Pesos are the unit of currency in several countries, including Mexico and the Philippines.
Purchasing-Power Parity
An economic principle positing that currency exchange rates reach equilibrium when the purchasing power in both countries involved is equal.
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