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QUESTION
Suppose the U.-EU exchange rate is $1.2 per Euro, the U. has 5% inflation, and the EU has 10% inflation. Under these conditions the real U.
Suppose the U.S.-EU exchange rate is $1.2 per Euro, the U.S. has 5% inflation, and the EU has 10% inflation. Under these conditions the real U.S.-EU exchange rate, rounded to the nearest cent, is approximately:
