Suppose that a basket of goods and services in the united, Financial Management

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Suppose that a basket of goods and services in the united

Suppose that a basket of goods and services in the United States costs $110 and in China the same basket costs ¥700. The current spot rate is E¥/$=7. If services are not tradeable across countries, is it possible to say whether China’s exchange rate is under or overvalued relative to the dollar? Explain.

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Financial Management: Suppose that a basket of goods and services in the united

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Financial Management: Suppose that a basket of goods and services in the united

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