Consider the following data on USDMXN and price levels in the United States and Mexico. Calculate the real exchange rate at t=0.
Price Level (P)
Year USDMXN Mexico United States Real Exchange (q)
-3 13.00 100 100 ?
-2 13.50 105 102 ?
-1 14.00 111 104 ?
0 14.50 116 107 ?